I've experienced both.
DC1 was a vaginal birth involving 5+ days of labour, failed epidural, forceps and 3rd degree tear. Could write a book about it! Suffice to say it was a more horrific experience than my imagination would have thought possible.
With DC2 I had an ELCS. It was absolutely lovely in comparison. The recovery was annoying, but the discomfort was completely insignificant, negligible, when compared to 5 days labour pain and sleep deprivation.
I found the decision to go with the ELCS very hard, agonised over it. Read every statistic and study out there. I am normally averse to messing with nature's way, so it felt really unintuitive to opt for a c-section. I was really worried about making the wrong decision and having to live with the guilt if something happened to the baby. I didn't actually make up my mind to have the c-section until the day itself (I obviously kept this indecision hidden from the HCPs so as not to jeopardise the ELCS option).
The ELCS was great but I will never know if it was the 'right' decision. If I'd gone for a vaginal birth, who knows, maybe I would have had a 2 hour labour and walked out same day. It was actually quite likely (statistically) that a planned vaginal birth would have been fine, given the 'path had already been carved' by DC1. I just couldn't take the risk.
Someone on another thread put it this way which I think sums it up really well... The uncomplicated vaginal delivery is the gold medal, the planned c section is the silver medal, a planned vaginal birth ending with complications (emcs or instrumental with tears) is the booby prize.
If you go for gold, you have a 60% chance of getting it and 40% chance of getting the booby prize (if you're a first timer). Whereas if you go for silver it's almost guaranteed that you'll get a good outcome (not as good as gold but better than the booby prize).
In terms of looking at the odds for yourself (if you are statistically-inclined!) the NICE guidelines (appendix C) have a useful summary of statistics on short-term outcomes of both a planned vaginal birth (including EMCS) and ELCS.
In addition there are also some studies showing a link between c-sections and some longer term disorders, like asthma and type 1 diabetes, these are what worried me most about choosing a c-section. The increase in odds is very low though.
Beware of statistics / headlines on risks of C-sections as a whole, because these tend to include EMCS lumped in with ELCS.