I had a water birth with DS and did hypnobirthing it was lovely and we had a really relaxing and calm experience. It was in a midwife led unit at local hospital, so like you mention you get the best of both worlds. Nice calm experience, but just down the corridor from the consultant led centre should you need further assistance. Will be going for the same again this time round - but have been advised not to deliver in the pool as they want more control over the actual delivery due to a tear last time round.
I've just started watching the childbirth all or nothing programme and am already shouting at the TV and I'm only 2 minutes in. The women sat round having lunch criticising calm water births and telling the poor pregnant woman that they are unrealistic and don't happen like that has really annoyed me. It is possible to have a very calm and relaxed birth without drugs and without pain and screaming - I know I've done it! Anyway will keep watching and hopefully the other women will be less annoying!