I've heard stories like this before, and I already decided in high school that when I had kids, I would use a midwife (several of my allied health teachers spoke of the difference during class time. I LOVED those discussions.). I've even heard an MD that I attended college with (when he was undergrad of course) talk about how OBs, like all Drs. are trained to react as if everything during birth is an emergency.
Here's the story I read today that affirms my choice:
excerpt from Susan McCutcheon-Rosegg's book Natural Childbirth the Bradley Way
"In many ways her [the midwife's] experience with normal birth is superior to most physicians'. For example, she recently attended a couple from one of our birthing classes at home. Their baby was born with the cord looped three times around its neck - unusual, but not out of the range of normal. The midwife calmly slipped the loops one at a time over the baby's head in a matter os seconds and the body was born with the next contraction. She had listened to the fetal heart tones frequently and knew the baby was in no danger. Later, at the hospital birth of one of our couples, the baby's head emerged with the cord looped once around the neck - something quite common. The baby was having no problems, but the physician attending was shouting at the mother (whose control was perfect) not to push. The doctor then pulled out a bit of the loop, clamped it, and cut the cord before the body was born. That meant the baby had to breathe immediately since the lifeline supplying it with oxygen had been severed. Fortunately, it did. Neither baby had any problems at birth, but the hospital baby had been put to greater risk."