I had all my wisdom teeth out WITHOUT sedation! One of my bottom wisdom teeth was curled round the bone and had to be drilled out.
Why no sedation?
Simple
1) Sedation drugs are Benzodiazipiens that are highly toxic to the human body eps brain. These drugs can stay in body for weeks. A pain killer is flushed out of the body in no time.
2) While in sedation your jaw is floppy. Wisdom teeth take A LOT of force to remove... if your jaw is floppy damage is made to mucles and ligerments round the jaw. If you are not in sedation your jaw is tense causing no long term damage
Yes without sedation it is unplesent. You wont feel any pain etc but its not a nice feeling. If you can cope with this do it without sedation as you will be better in the long run. BTW had this advice from my dentist.
Being sedated for a dental procedure will have no long-term effects at all. People are put on Benzodiazipiens for things like insomnia and anxiety, albeit for a limited course. Being sedated for a dental procedure once in a while will have no effect - just like having the odd x-ray once in a while is just fine.
Wisdom teeth don't always take a lot of work to get out - most are fairly straightforward. While you're sedated the dentist has an easy time of it - you aren't tense and "fighting" against him and he can whip the tooth out in quick time, saving any painful after effects. Everybody I know who's had teeth out has had some level of discomfort - my sister looked like somebody had played football with her head! I've had two wisdom teeth pulled under sedation and had zero pain or swelling. That's typical for sedation.
While your dentist may say one thing, my dentist would clearly disagree. And having being sedated 3 times, so would I.