D.C.
Hi R.,
I sort of planned mine. I was due on a Tuesday, and saw my doctor on that day. I was only 1-2 cm dilated. My blood pressure was starting to rise, so he suggested that we induce on Friday if I didn't go into labor before then. I didn't, so I was induced on that Friday (which actually happened to be our 5th anniversary). I also wanted to be induced that day because it was our 5th anniversary, and because my OB was on call that day, so I was guaranteed that he would be there to deliver my daughter. I agree with Deanna Leigh and Susan, and get all the information first to make sure your insurance will cover it. Mine did, but I had the pregnancy-induced hypertension as a valid medical reason for inducing labor.
As far as inducing and your labor, it all depends on your body and the baby. I have "child-bearing hips", and I walked for an hour every day during my pregnancy, so I had a relatively short labor even though it was my first child. I've heard that the pitocin creates stronger contractions, but I don't have anything to compare it to. They started the pitocin at 6 am, the doctor came in and broke my water around 9:30 am, the contractions got stronger and I had the epidural around 10:30 am, and I delivered a little after noon. But I have a friend who was induced on 3/6/09 (right around her due date) because she thought that would be a cool birthday to have, and she was in labor for 36 hours and ended up having a c-section on 3/7. So no matter what you plan, God and the baby may have a different idea!
Good luck to you!