I am pregnant with my third at 42 - 35 weeks now. No one has ever said anything about potential problems, despite the fact that I am high risk- ish anyway due to type 1 diabetes. In fact my GP was v happy for me and said "you know, 42 isn't really considered old" which I was pleased with.
I did have all the screening tests though.
My last baby was an elective C section, due to problems with the first being big, plus I just thought, like you, screw that, no way am I doing that again! It was a quick 8 hour labour as well, but I just hated it from start to finish.
I don't consider myself a coward, I consider myself most sensible and taking advantage of modern medicine!
Being pregnant this time round (youngest is 8) has actually been a lot easier thatn previous pregnancies, I ma so relaxed and time has just flown.
Of course baby isn't here yet, might all change then!