I had to be induced as my waters began leaking a week and a half before my bub was due. It was quite a surprise for me to have to be induced as I didn't realise it was so important after your waters break (can cause infection and ba dangerous for bub). I had waited two and a half days before going to the hossy.
I am another person who would say please try to wait. Though I do understand you being over being pg- I too had been pg for over 12 mths due to miscarriages. But in my experience,(which was not a god one!) induction can be quite painful, though I haven't experience a full term natural birth.
My labour went for 24 hours, and thats from nothing- no contractions etc...to full on labour in about an hour or so. I was pushing for 3 hours because bubs wasn't ready to be born and wasn't in the birth canal and wouldn't descend. I was continually threatened with c/s and vacuume extraction because things were taking so long and though my waters had broken (hind waters only) I had to have them artificially ruptured too, which was really painful. The only thing that stopped them doing a c/s was that bubs was fine so they let me keep trying. Though by the end of everything I was so buggered that I was very tempted by the c/s!
Bubs ended up getting stuck twice and was quite lethargic when born. I then ended up haemorriging (sp?) my placenta got stuck and I needed 3 blood transfusions. I was very sick afterwards and as a result (I believe) I have had alot of trouble bf and was in tears everyday for about five or six weeks, due to the dissappointment. I had really wanted to go into labour naturally and wanted to try to do it all naturally. In the end I just believe that my baby was not reasy to be born. I would have rathered to have daily monitoring than have gone in to have an induction. Your bubba will come when it is ready. But if you really do feel it is in your best interest as well as bubba's then you are the only one who can make that decision.
There are alot of horror stories here about induction, but I think it also has alot to do with how you feel about having it done also. If you are feeling positive about it being done then your frame of mind is that youare ready to have bubs. I wasn't and I felt everything was going wrong, so I think that had something to do with how it all turned out and of course how I feel about it now. If you feel positive about it then it would be a more positive experience.
Good luck with your decision, it's a tough one.