I've had two natural births and been a doula at several medicated births. I must say that if your baby is in a pretty good position, and you're not super scared, natural is the way to go. It really won't last that long.
There are SO MANY possible complications with a medicated birth. Not all of them crop up during the birth, either. The dreaded "flat nipples"? Yeah, pretty much caused by fluids and epidural meds, along with engorgement, but the hospital will surely blame the mom because her body isn't working right (can you tell I've had to deal with this recently!?)
I'm sure once I see a woman give birth successfully with an epidural with no major tearing or complications afterwards, I might feel differently, but so far my experiences haven't been great at all. Most of the time postpartum is also a lot easier if you can have a normal birth; it was for me.
I will say, that I didn't have the "high" that I hear women talk about. Both times I mainly just thought "what the heck just happened!?" Also, I'm really a wimp for pain, but this is pain with a purpose. You have to convince yourself that it's for a reason, and that your body is working the way that it needs to to give birth. It's working! Some studies have shown a decrease in labor pain with moms who have high Vitamin D levels, so you might want to look into that
Also, check out the blog "Mama Birth". She has lots of great birth stories and pep talks about natural birth; very down-to-earth