Safe Sedation. For your comfort and so your procedure runs more smoothly, eliminating any possible negative experience for you, i would recommend it. A good video to watch produced by the aaoms on safe anesthesia can be found here: http://youtu.Be/8tg040oyxpq.
Depends. This is a personal choice that should be made after consultation with your oral surgeon. It depends on many factors such as the type and length of procedure being done, medical history, anxiety level, presence of infection etc.
Yes. Depending on your health status IV sedation is always easier on you and your doctor.
Personal choice. That is a very personal decision and should be made after a discussion between you and the dentist who will be performing the surgery. Each case\person is different. The vast majority of my patients are completely comfortable with local anesthesia (and 'sweet air') and are not sorry for their decision afterward. Some prefer to have IV sedation and for them that is the best and right decision.