I worked until labor for both kids and preferred it that way. However, I worked reduced hours from about 1 week before my due date until they were born, 11 days and 12 days late. When my first child was born, I really think I would have went insane if I had not had work to go to. I was very tired at the end but since we had arranged coverage stating that week, it worked out fine. I am very lucky because I effectively manage myself. I manage my division: schedule and delegation of tasks. I covered the specific hours we needed staffing there with other personnel and I worked when I wanted to. I had certain projects and tasks to work on and it didn't matter when I did it. I think in the last 3 weeks, I averaged 20 hours per week. I had 12 weeks to take of no matter what, so those 20 hours per week that I took off came out of my time with my son afterwards.
The second birth, I felt great and worked full-time until my daughter was born even though I had set up the same arrangement.
Finally, a great deal of my time off was unpaid and I feel I am still in a financial hole from it. I took as much time as I could because I wanted to be with my kids and I used up all of my savings to pay for it.