Can't the same thing be said about using fractions on the exponent? Exponentiation is actually just repeated multiplication (a^n=a*a*...*a, repeated n times), but you can't do that when n is a fraction or irrational anymore than you can do it when it's imaginary.
We have to define what it means for an exponent to be non-integer: for fractions we might define a^(b/c) as the root of the equation x^c=a^b, and to allow irrationals I think you need some real analysis (it's been a while, but I think the usual way is to first define exp and log, and then say that a^b=exp(b*log(a)), which is kind of cheating because we have to define exp first!).
There's a very intuitive way to "see" that e^ix=cos(x)+i*sin(x): all you have to do is to treat complex numbers like you would any other number, and "believe" the derivative rule for complex numbers (so (e^(ix))'=ie^(ix)). Then you can just graph f(x)=e^(ix) for real x by starting at x=0 (when clearly f(x)=1) and from there take small steps in the x axis and use the derivative to find the value of the next step with the usual formula f(x+dx)=f(x)+f'(x)*dx.
Doing that you realize the image of e^(ix) just traces a circle in the complex plane because every small step in the x direction makes e^(ix0) walk a small step perpendicular to the line going from 0 to e^(ix0), simply because multiplying by i means rotating 90 degrees.
