When I get pregnant, I plan on doing a water birth at home. I have to research more on it, but I do know it's safe for baby and from what Ive seen, it seems to help the mom being in the water. Like I said though, I have to research more on it. :)
Our first was born in a hospital. This one will be born at home (any day!). We decided against a water birth after talking with our midwife. She said she's seen several umbilical cords break in water births-something she's never seen in a birth before-and she's been a midwife for nearly 40 years. She also said there are concerns about the water washing all of the good bacteria out of the vagina while the mom is laboring and not passing it on to the baby.
As for logistics, we live in a small house that I run a business out of. Explaining to clients why there's a pool in the living room would get old. And we don't really want to deal with the dirty water following labor.
I have heard TONS of women rave about water births, but it's just not for us. As soon as I go into labor, I plan on turning the water heater all the way up and spending the more difficult parts in the shower. :)