My first child was induced, and I ended up getting an epidural after about 12 hours of hard labor. The induction drugs definitely made it VERY painful. If it had been a shorter labor, though, I would have made it all natural even with the induction, so I'd say try it out and see how far you can go. The whole experience was wonderful and empowering and I love to remember every second, even the painful part.
My second child was an emergency c-section, because he was sideways and then breech. The labor was less painful than the first, but it didn't feel "right" because he was oriented incorrectly, so in some ways it was worse. Long story short, 13 hours in to natural labor they did the emergency c-section. If you can avoid it, I recommend doing it the natural way. I had it lucky, and was able to walk around and clean my house a week or so later, but this is big surgery and I know lots of people who were laid up for weeks. Not only that, I have had a lot harder time with hormones (some baby blues, feeling like I "lost" my baby even though he is right there in my arms) due to the surgery. So, in short, it had the BIG plus of getting me a healthy baby boy (and I would chose it again in a second if it meant increasing the chance of a healthy baby), but on the downside it was not the wonderful experience that the first delivery was. So if you can have a natural or non-c-section delivery I recommend that! Again, at the end of the day, the healthy baby is the point and the rest is just icing on the cake!