My best friend was diagnosed with potential schizophrenia a few years ago - wrongly. They gave him anti-psychotics, and they made things worse (and so did the anti-depressant - the anti-psychotic made him more depresseed, the anntidepressant made him more psychotic). From what I've seen, antipsychotics have a lot of side-effects, particularly the old ones like clozapine and Largactyl - newer ones like respiridone seem to work better with fewer side effects, but they're still not something to take unless they're really necessary (yes, if someone is clearly schizophrenic, hearing voices etc, the drugs are needed - they're not wonderful but they're the best we've got at present, and counsellling probably desn't work in that situation.
I've been around quite a few people with depression over the years. The modern antidepressants do seem to work pretty well for the majority of people, but not everyone - a lot of people have mood swings for the first month or so as they start to take effect, and for some they can be dangerous - from euphoria to suicide within a few hour (my friend was a bit like that). I think in the UK the SSRI (prozac-type) antidepressants are now banned for under-18s because of the suicide risk, and from what I've seen that risk is there for older people too. BUT I know people who are on them and are absolutely fine, far better than before - so they do work well for probably the majority of people, but they can make things worse too.
I'd agree with CamoNoose (I think) - far better to try counselling or therapy first, get the pills only if counselling doesn't work (guess what, that doesn't work for everyone either, at least not on its own|),