Yes! A crash section is a life threatening situation - more so than an "emergency" section.
I had a very very similar experience to you - was induced, on a drip got to 10cm was allowed to push for an hour but she was face presenting, so basically nothing happened.
They said they would try a "trial of Forceps" in theatre, making sure I had a spinal - just in case it didn't work and I needed a section.
So down we go, and on the second forcep attempt the cord prolapsed, so it was scary when the obstratrician was shouting in theatre saying "we have to get this baby out NOW" several times and urging her colleagues to get moving quickly, and it felt like an age before they managed to get her out - in reality it was about 10mins. I was awake of course for the whole thing and so was aware there was no cry from her and was aware they were obviously struggling to sort her out.
Sadly she was very poorly because of this, she had an apgar score of 1 - she had a heartbeat but that was it, this rose to a score of 3 after a few minutes, but basically she was intubated and heavily sedated on morphine and whisked off to the neonatal unit - I saw her for the first time in theatre with an oxygen tube in her mouth all wrapped up in an incubator. So much for skin to skin contact and all those nice photos you see of babies in a towel just born cuddling mum!
I was numb really, I just couldn't believe that after such a wonderful pregnancy my baby could have been brain damaged from her delivery, it was gutting. It was 42 hours before I could give her a cuddle
Luckily, after 5 days in the neonatal unit they were happy with her to come up to the ward with me for 24 hours and then we could come home.
They want to see her every 3 months to track her progress and they bascially can't say what effects her birth has had. At the moment she is a very happy, bubbly, active and alert 3 month old, so in my heart of hearts I think she'll be fine and think we may have been lucky but only time will tell as she reaches each of her milestones.
We also are going to do the Birth AFterthoughts service, its very important I think to go over the birth while it's fresh and put to rest any demons, before thinking about another.......an elective c-section is quite appealing!
So I know exactly how you feel - we went through the same thing virtually, and I think it made my baby blues alot more violent when they appeared because of the emotional ups and downs of the first week.
It's nice to hear another story about this as it's quite rare - anyone else out there?
Is your little one under observations too?
Very happy to chat further if you want to
It will prob turn up in the middle of another topic somewhere! 
Ok.....here goes again!
and was on another planet when suddenly there are red lights flashing and i'm being wheeled at 40mph down the corridor! I had a 'cord presentation' (or prolapse?) which is when the cord is wrapped round baby's head (a bit like a hair band) and as the contractions push baby down, all blood flow etc is cut off. THANK GOD i was examined when i was, or it would have been too late. I requested my labour notes back in October & have followed with two phone calls but they are 'experiencing a backlog' 
When i have them i am going to make an appointment with 'birth stories' - a local midwife who will talk me through my notes. There are a LOT of unanswered questions in the run up to final events.....so i am desperate to see my notes.
