Hang in there, OK? It is excruciating to watch someone that you love and care about have to let go of life. I am so very sorry and hope that knowing how much your loyalty and friendship mean to Sherry will help you gather your own strength. We all will come to this bridge and have to cross it. Having someone that cares for you, that knows your worth as a human being as you face leaving that behind is invaluable.
Don't worry about Hospice. They are not there for any other reason than to help alleviate a person's pain. Hospice was called in when my Dad died as well as with a very good friend my own age and in both instances it was the the dying person that determined how much they wanted to be drugged. My friend wanted to be present as much possible and was willing to tolerate incredible pain to do so until the absolute end. Only then did she request enough to make her so out of it that she could no longer communicate. The whole goal of Hospice is to make death easier for the person through eliminating fear as much as possible. For the families friends of the dying person there is usually support as well. I hope that your experience turns out to be a good one. I guess like any organization it will depend on the individual people delivering services but I know the philosophy is a good one. If they offer any services to you as someone involved in her life, you should accept them. I think it could be a good place for you to get some support through this very hard time.
Again, let me just say, the offer stands to PM me anytime you need to. Death and I are pretty well acquainted these days and I have both sympathy and empathy for what you are going through. Stay strong. I am so happy to hear that you do not consider using an option.