I have totally been there!!
My son was due July 9th, 2005. I was admitted for induction at 41 wks 3 days, and gave birth to him on July 22, at 41 wks 6 days.
My decision to go ahead with an induction was based on the knowledge that I acquired about the risks of being over 42 weeks, as well as my intuition. I felt very in tune with my baby, and I felt that he needed to come out.
When he was born, he was a bit dehydrated, and I am convinced that he should have weighed more than he did. He was incredibly skinny, and was pretty much starving for the first couple of days.
I didn't see the placenta, and I wish that I had, because it would have given me an even clearer sense of what the situation was.
If my body had been showing any signs of imminent labour (other than having painless Braxton Hicks every 8-15 minutes for 8 days straight!), I wouldn't have done it, but my cervix was barely even starting to soften, so I felt that it was time to get things moving.
Trust yourself. Request the least intervention needed. If a gel will work, then great. If you end up on oxytocin, request that it be turned down or off at some point, to see if your body will continue to labour on its own.
Most of all, don't feel guilty about it. Having a natural labour was very important to me, but having a healthy baby was the MOST important thing. I may have suffered from having such a difficult, medical labour, but in the long run, I think I did the right thing for my son, and that's all that matters.
Sending you HUGE labour vibes, so that this will happen naturally, but if not, I wish you the best possible induction!!