Several Choices. The decision of what type of anesthesia to use is based on the difficulty of the surgery and the type of patient involved. There are several choices such as local anesthesia, nitrous oxide along with local, IV sedation (twilight sleep) and general anesthesia. The best method for you should be discussed with your oral surgeon after he has examined you and evaluated your case.
Not usually needed. Usually this operation can be done with local anesthesia and light sedation. Some dentists use valium, other might use a combination of medications including nitrous oxide.
Wisdom teeth. Its never a idea to have general anesthesia especially for wisdom teeth as this is done in an office setting. There is really no problem with having the wisdom teeth out with the usually nerve block local done for extraction of teeth.
Very minimal risk. As with any surgical procedure there is some risk, but everyday many people are put to sleep (and awakened) to get there wisdom teeth extracted.