Well I'm a bit older than you, oplus a mommy of five (age 6-22) and find the education commitment for both and the CPM NARM documentation requirement to be a bit overwhelming, though surely necessary for the integrity and credibility of the discipline.
I'm going the CNM ( plus maybe the FNP) route strictly for broader scope of care delivery, long term career planning and financial reasons
Some of my thoughts are:
easier access to financial aid, grants and scholarships
loan forgiveness when i go to work in a public health clinic which i've always wanted to do
volume and variety of birth experiences in the early years of practicing and adequate access to a hospital where I hope to have privledges just in case a transfer is needed ( this may not be an issue in your state)
being able to actually afford to provide care to those desiring quality midwifery care without having to consider financial implications
ability to serve underserved and marginalized populations right here in the USA without having to think about how i will eat
access to populations not easily reached by CPM's either due to legal, political or reimbursement issues
knowledge to provide a continuum of care for the whole woman her child and the family if needed
clear ascension path to academia if I decide to replicate my ideas and best practice, what better way to augment, change or fix "the system" then to reeducate those who follow you on the same path
because international spots I've been too and that midwifery friends are setting up (schools and clinics) actually desire a CNM to assist with curriculmn devlopement, supervision etc... and I want to avail myself to this opportunity also
after looking at the documentation requirement for NARM PEP process vs the other options through NARM there seems to be no time short cut, especially if you live in a state with to few CPM's qualified to evaluate/ mentor you and two few home births and 3-5 birth centers
This is just some of the rational, and after years of working in and around health care, education, promotion research etc... I definately resonate more with the CPM model plus all the potential for holistic and alternative integration but I have present day infant morbidity/ mortality rates two zip codes over to think of and those mamas aren't always thinking about home birthing.
Hope this helps