My thoughts on breastfeeding:
Breast feeding is a little uncomfortable at first, but with the help of a good lactation specialist (found in most hospitals) and a commitment on your part, it shouldn'e be too painful. I loved every minute of it once we got going. It is also a great way to help you lose the baby weight. It helps reduce your uterus back to it's original size much faster as well. Mothers also have the benefit of experiencing a release of Oxytocin while breast feeding which makes us feel happy, calm, and serene (it's also what is responsible for orgasm, by the way). Breast feeding also forces you to sit down and rest and recover periodically throughout the day, which is hard for moms to remember to do. I can't remember, but i think that breast feeding reduces your risk of some types of cancer-I just can't remember any more details about that right now.
Breast feeding is much healthier for baby. Your milk will change as your baby grows to fit his or her needs. there are no bottles, equipment to carry around, and you will never forget to bring baby food along wherever you go. Formula can cause constipation at times, and is very expensive.
WHatever method you use, I am sure your child will still grow up to be healthy, happy, and love you beyond reason. Mothers who choose formula are not bad mothers, so don't let anyone tell you that.
About the boobs-gravity will take care of them in the long run anyway, and breast feeding is what they are designed for.
Good luck in your decision.