That definitely sounds like a better hospital situation than most women have, but in that case, I would still lean towards birthing at home. Often, in a midwife-attended hospital birth, you find yourself fighting hospital policies and protocols that the midwife isn't in favor of but doesn't have the authority to over-rule, such as time limits. Many hospitals also don't permit waterbirths, which would be a deal breaker for me. And again, it's much easier to achieve a physiological, normal birth when you're in your own home environment. Birth is an incredibly psychological experience and it progresses much easier when you feel safe. We're just mammals, after all. If you put a cat or a horse or a deer into an unsafe environment, their labor will stall. We're just the same.
As far as what your particular midwife can do at home -- ask her. Sit down and talk with her about protocols for various emergency situations. I'd also ask her why she prefers homebirth, and what hospital protocols she disagrees with.
I am in the same position as the OP, but with a bit more time to decide (EDD in July). I have been reading about homebirth for years now and I am well aware of the benefits, but I have some concerns to overcome. I'd love to see some discussion about what specific forms of treatment the homebirth skeptics feel is not available at home. Particularly for the baby. I know oxygen is available, but can a midwife intubate a newborn? Provide CPAP? I don't think so but I'm not sure.
In my case, I have a homebirth midwife (CNM) who will also deliver in the hospital if you prefer (although she strongly favors homebirth). Her orientation is completely toward physiological birth, so I have no fears of excess intervention in the hospital. I also don't have any strong fears or anxieties about being in the hospital (although home is always nicer for sure.) I guess in part, I'm questioning whether I can justify a homebirth since I have access to a "safe" hospital birth.
I'm not making an argument here, just wanting to hear what others think. Thanks for the helpful thread, OP.