Every pregnancy, every labor and every child are different. My experience was that labor wasn't so bad. My experience was also that some people just LOVED to tell me their horror stories which made me unnecessarily nervous (the funny thing is -- it usually wasn't even someone who had gone through labor and delivery -- it was usually someone telling a story of a friend or a friend...)
Anyway, I'd recommend taking a labor and delivery class at the hospital that you plan on giving birth at so you know what to expect.
For me.... my water broke before I went into labor. They started me on pitosin to start the contractions which felt like very bad menstrual cramps. After about 5 hours of contractions I asked for an epidural b/c I was tired (it was 1:00am). Once I had the epidural I fell asleep and slept through most of the labor. I woke up in the morning to push. It was exhausting but b/c of the epidural, it wasn't painful.
I did have to have an episiotome and was sore for probably about 10 days, but again, the pain was not unbearable or horrible -- just a little uncomfortable and it healed very quickly.
Some people told me, "your body will never be the same" -- I certainly did not find that to be true. Aside from my little pot-belly -- I feel like my body is now exactly the same. I was afraid that sex would feel different -- it doesn't (although in full disclosure -- the first few times you do it after labor, it might be a little uncomfortable, but everything eventually goes back to normal).
As for bringing the baby home, the first 3 weeks are really tough and it is good if you can get as much help as possible from the baby's father or your parents, siblings etc. I don't know where you live, but on capitol hill in Washington DC we have a group that volunteers to cook meals for new moms in the area. Take any help you can.
Also, even if you are nursing, it is okay to skip a feeding and let someone else bottle-feed the baby. In the beginning, infants eat about every 2 hours. My husband and I worked out a deal where I went to bed at 5pm and he'd take care of the following two feedings so that I could get 5 or 6 consecutive hours sleep. That was HUGE. And while a ton of people warned me that if I wanted to nurse the baby, we wouldn't be able to give him any bottles -- AGAIN, I found that not to be true. We fed my son with bottles about two times every day in the beginning and I was still able to nurse him an entire year.
Finally, know that while it's tough in the beginning -- it gets better. In the beginning basically all they do is eat and sleep. They wake up, you change their diaper, you feed them and they fall asleep for 2 hours. Again, every child is different, but for me the first 3 weeks were the hardest, then it was still tough through 6 weeks, but at least he was sleeping for about three hours at a time and sometimes longer. When he hit 8 weeks, he slept through the night for the first time and by the time he was 10 weeks, he was sleeping through the night consistently.
A great book to read (or DVD to watch) is Happiest Baby On The Block by Harvey Karp. It teaches great soothing techniques. I also highly recommend Baby 411 -- You don't have to read it cover to cover, but it's nice to have as a reference. I still use it.
A great life-saver for me was the baby bijorn and another baby carrier wrap. My son did not like the stroller, but if I stuck him in a carrier, he'd fall asleep within a few minutes. I'd basically wear him all day long -- it was great.
Sorry this is so long. Try not to be too nervous. I'm sure you'll do fine.