Use of pitocin usually means you will have to have constant fetal monitoring for stress from the contractions.
Many practitioners are using a new drug called Cytotec for inductions. It doesn't require an IV, instead, it's a small pill placed next to the cervix. It's very successful in ripening a cervix and starting labor.
There has been much controversy concerning this method as it didn't have FDA approval for inducing labor (mainly an ulcer medicine) but as of May 2002 (pdf file) it has been approved with a large list of contraindications of use. If this is a method which you would like to consider, be sure to fully investigate your options and make sure you do not fall under any of the contraindicated categories as many women have very heartbreaking results after using this option.