Without pain, no.
Without suffering, yes.
Pain is helpful, when you have your arm on a hot stove pain causes you to recoil said arm away, without pain you could just be completely burned to ashes having never bothered to move. I suppose it depends on if you see being dead as a good or a bad thing.
Survival instinct forces me to attribute staying alive to being good from my own perspective, even though this survival instinct only exists because those without/with weaker drive to survive early in evolution therefore did not survive in hard times and those with the strongest drive to survive passed on the trait, which are merely events that do not place value of good or bad, and if I happened to not have a strong survival instinct I wouldn't label my living as "good". But this is not the case.
If I were suffering however, like true suffering I in no way find this desirable, in fact the very least desirable of all experience would be the experience of suffering and enough of it would create a strong desire to end that suffering and die. In this case death could almost be labelled "good" though as it is inconsistent with the opposite (continuing living) having been established "good", then logically the suffering must therefore be labelled "bad" instead of the death labelled "good" . Which leaves us with Life(good) pain(good as it sustains life, as exampled above) suffering(bad).
Answering your question, Life with pain but without suffering would be a "better", or infact "ideal" life.
UNLESS we imagine a whole new world as Lost Ego did, Where we havn't evolved through a process involving pain and other adaptations for survival, where perhaps an amazing experience of absolutely no pain or sufferriing abounds it's utopian landscape and even death brings no hurt to anyone.
Unfortunately we are not beings of nor are we living in such a world, and the practical objective to take on therefore is to do what we can to eliminate suffering while respecting a capacity for feeling pain as necessary and therefore something we will be constantly working to avoid. It keeps us seeking life-sustaining activities and keeps us cautious in areas of potential danger. You should recognise pain(whether physical/emotional/whatever) in your life as a signal to enact change.
Edit: Note the distinction I made between the words 'pain' and 'suffering', if you consider pain and suffering to have the same meaning of simply an unpleasant experience then your answer is given in form of a. degree, and b.whether or not it is constructive. A life devoid of All pain and suffering would not be a "better" life, though a life with mild/short lived pain and suffering that is constructive to positive change, while void of intense/chronic pain/suffering or pain/suffering that is pointless would be an "ideal" life. Hense any movement away from a life full of all kinds of pain and suffering and towards this ideal would be a "better" life.