I'm probably breaking some sort of unwritten code by coming out and saying this, but childbirth is terrifying, and I don't think women do each other any favours by pretending to women who haven't been through it yet that it's not that bad. That said, one of the things that makes it the most terrifying is also one of the things that makes it the most doable, namely that nature takes over and you don't really get to call the shots. The fact of the matter is, come hell or high water, your baby will be born. You don't have to worry about chickening out, because that's not an option on the table. You can be brave and stoic during labour, or you can have a complete meltdown and scream so loudly they hear you in the next town over--it doesn't matter, either way the end result will be the same. And even though while it's happening it'll seem like the worst experience of your life, as soon as it's over, and I mean literally as soon as little'un's feet pass through the birth canal, you'll feel the most profound sense of relief. No more pain, no more fear, just peace and your love for your newborn child.
And remember, the year is 2013, so if you don't want to experience the full pain of labour, you don't have to. Research all your pain relief options in detail, decide what you're comfortable with, and get it put on your birthplan, and remember the decision is yours and yours alone. If you want an epidural, you have an epidural. Don't let anyone convince you that somehow makes you a failure as a mum.
As to therapy, if it's been offered to you, I'd go for it. No, of course they can't change labour itself, but they can help you to put it into perspective and not spend your whole pregnancy worrying about it. After all, the stress isn't good for you or the baby, and there's no point in losing sleep over the inevitable.