I love the closeness with my kids when breastfeeding. DD weaned at 14 months and DS is going strong at 8 months. Before you decide, I highly recommend you attend a lactation class. Breastfeeding is not necessarily easy or instinctual. Some babies have a hard time finding the latch, and it really only takes one bad latch to cause nipple damage. DD bit me hard one of the first times she latched and bruised that side. DS on the other hand took to it like a champ. i did have to pull his lower lip down, but otherwise he had it.
Even if you do it right, the first week or so can be somewhat painful just from the letdown until your body gets used to the sensation.
no one in my family or DH's family breastfed, but I was pretty determined. Formula is expensive, a pain to get ready and you have a horde of bottles to look after. Granted i'm a sahm so that makes it that much easier for me, but being able to feed your baby the instant he or she is hungry is wonderful. It's also great to not have to deal with bottles in the middle of the night. you also don't have to worry about finding the right formula that doesn't cause gas, reflux, constipation, etc. Though that's not to say that BF babies don't have reflux or gas, but many babies are sensitive to various formulas and it can be tough finding the one best for your baby.
Check with your hospital to see if they have the LC visit you after the birth and before you check out. This is a great resource and can help you feel more comfortable if you decide to nurse. also look for support groups in your area.
But best depends on the individual. From a purely medical standpoint, breast is best, but more factors go into that decision for mothers.
Oh, something else about breastfeeding, for those first couple of days you will have some pretty serious contractions as your uterus shrinks back down. I found after my son it really helped in the recovery. I was much less swollen in the tummy than my roommate who was bottle feeding and for me the heaviest bleeding was over by day 3. Breastfeeding does help your body bounce back and helps burn extra calories. It also reduces your risk for breast cancer.
But don't feel bad if you don't feel up to it. Formula isn't evil and is a good alternative for mothers who can't or don't feel comfortable breastfeeding.