I believe my trouble is that the identity, $e^{i \pi} = -1$, comes down to the definition of the exponentiation of $i$, which seems rather obscure to me.
This is my current understanding of exponentiation by $i$: Express a number as $r e^{i \theta}$. Then $(r e^{i \theta})^i = r^i e^{- \theta}$. Furthermore, $r$, a real number, can be expressed as $e^{\theta_2}$. Thus the resulting number is $e^{- \theta} e^{i \theta_2}$. While I am satisfied with the verity of this statement (I am aware of proofs of $e^{i \theta} = \cos \theta + i \sin \theta$), I just don't see why any of it is true.
I do not know of any intuitive explanation of why taking a number to the power of $\sqrt{-1}$ would produce such a result.
Is there any, or do I just have to accept the fact that it's true?

The exponential function on the real line $e^{x}$ can be defined by the power series
$$e^{x} = \sum_{n=0}^{\infty} \frac{x^n}{n!}$$
It extends as an analytic function to the complex plane in precisely one way
$$e^{z} = \sum_{n=0}^{\infty} \frac{z^n}{n!}$$
This is the definition of the complex exponential, and all of the properties you are observing emerge from this definition.