I'll tell my experience!
My labor was really quick and mostly pain-free. I only had excruciating pain until they gave me epidural, and it all went relatively event free. I just lay there, or stood there pushing when I had a contraction, nothing much really. I can say I prefer to have a child than go to the dentist.
However, I was so nervous. It was the end of 9 long month and I wanted to see my baby so bad! All I could think of was the bad stories I've heard about labors what went wrong, were too long, too painful. Hubby being there was so important to help me relax, laugh, and share the anxious feeling of meeting her. We were both daydreaming, making plans, sharing stories. I believe it was what make me so relax and improved my labor experience!
Also, it is a messy time: I needed help cleaning myself as I couldn't get up. Nobody was there but him, and he showed me the brave men he is by helping me and being by my side even in messy times.
He was there when she was born, but didn't watch what was happening down there. He was helping the nurses, asking what did they want he to do (it was really fast, nobody was prepared), and when she came out… boy, I saw in his eyes that a new man was born too. What a spectacular father he has become!
So don't be afraid. Go and watch and help your spouse! It is the most special moment I've experienced I my life, and it so improved the bond between two people!