i really thought i'd care, i'm generally pretty modest, but ended up totally naked during both births - clothes just felt soooo uncomfortable. but i can understand feeling weird if i had an "audience." for the most part, my birth attendants have always given me a lot of space, often staying in the other room, letting me and DH be alone together to do what we needed to do. i think that made a huge difference - i'm not sure how i would've felt if i had a dozen eyes upon me constantly.
the most important thing is for you to do what works for *you* - whatever that is at any given moment. if you want clothes on, by all means wear clothes. if you feel you need to remove them to be comfortable and there are others in the room, ask them to leave - or better yet, make sure your DH knows that will be your preference ahead of time and have *him* ask everyone to leave the room. do whatever you need to do to be relaxed and comfortable - don't forget that when you're giving birth it is all about you.