I had a hemmorhage with my first birth - the midwives estimated about 700ccs. They got it under control with a little pitocin and some rather painful uterine massage, and I was home with my baby a few hours later. No problems. My midwife told me that it should be no concern for future births, that the fact I hemmorhaged with the first did not put me at greater risk for it happening again. I did not have any excessive bleeding with my second birth.
When I was reviewing my birth history with the OB I saw to confirm this pregnancy, he seemed to feel that the amount of blood I lost in that first birth was not any big deal.
When it was happening, I didn't even realize there was really anything wrong - the midwives were so cool about it, and I was holding my baby lost in bliss anyway. I felt fine, just a little dizzy when I finally got up a few hours later to get ready to go home. (I later found out, though, that DH thought I was going to die when it was happening and it really affected him deeply - he didn't tell me that until after my second baby was born! )