Knowledge of Oxytocin vs. Pitocin for labor induction?

Pitocin is oxytocin.

Pitocin is just synthetic Oxytocin.  Nubain is a pain med that works well for deliveries.

For Nubain, if you're generally healthy without kidney or liver troubles, it's going to be fine.  Adverse reactions include low blood pressure, low heart rate, and low respiratory rate.  Only VERY rarely do these reactions cross over into your child.  Common reactions are more along the lines of tiredness, diziness, nausea, and headache.  Since you're going to be under intense medical observation the whole time, you are going to be fine going with Nubain.

You're going to have a harder, and more sudden onset of labor if you induce and, if you don't have a valid medical reason to, I'd advise waiting a few days to let your body have a chance to do its thing.  Since I don't know YOUR situation, that's just general advice.

It's not that it's bad, it's just going to come on harder with an IV drip than it would be if your body took charge of the delivery of the hormone. 

Bottom line: (speaking as a nurse who's watched it repeatedly) do what you have to but don't let your Doc sell you in inducing within a couple of days of your due date unless YOU truly believe you NEED it.  Every medical decision that involves your body and your baby is YOUR decision.  Get as much input as you can before you commit.