I'm sorry for your traumatic hospital birth. In my state midwives won't attend a homebirth unless an ambulance can be at the house in 5 minutes.
That's understandable. K and I are supportive of trying to make the process as natural as possible. Her actual plan was to be as natural as possible but in a birth center (attached to a hospital) setting.
The issue is simply this: in order to realize there's a problem, realize it's bad enough to admit help is needed, and then get an ambulance, that's a lot of time. If we take only 5 minute for ambulance, 7 for the ride to the hospital (nearby--closer than many others would be), getting in and handing off to staff, you're looking at 15 to 20 minutes. Then the actual procedure starts.
In our case, those 20 minutes were the time it took to walk less than 50 yards. K had reacted badly to the low-key drug, so we relented for an epidural some time before. That saved time numbing her. The doctor moved fast, and our boy was out in less than 15 minutes. Even then, his first APGAR was 2 (bad). The second was 8 (okay). And his oxygen level was 717. 720 is normal, and 700 is guaranteed brain damage. If we didn't make the call to go get him (even in the hospital the doctor gave us the option of pushing or cutting, and K decided he was to big to putz around if his heartrate was under 60), then ambulance and other extra time would have meant added time with his oxygen levels depressed. More time with low oxygen means ever-increasing chance at damage. Let's not even worry about how close to dead K herself was.
In the end, we are glad we handled things as we did. We tried for the most natural options we could (the center is very much a nature-oriented place--it is the Pacific Northwest after all; I think that would have beaten us with flannel and Birkenstocks if K wasn't going to breastfeed) but with the full weight of science and technology immediately available if there was a problem. The downside is so tragic that we couldn't accept any other option, no matter how warm and fluffy the upside.
To be fair though, we have friends who had bad hospital experiences, so I'd have to say that selecting a hospital that is responsive to and supportive of the mother is very important. I wouldn't ever claim that all hospitals would be as good for others as ours was for us. As for the expense involved, it's probably best not to get me started on just how !@#$%ed up our medical system is in the U.S.