I have been down this road before. The solution I picked was to create a NEW C# assembly (I later ported this to Prism) which exposed via com interop the functionality I needed to reach. I was finding by black boxing the API calls into something simpler, I was able to reduce the number of classes I had to deal with across the interop barrier.
I did look at Hydra, but it was overkill for what I was trying to do... which was access a 3rd party SDK which was presented in .net assemblies to process data. If you are looking at embedding the functionality (gui objects, ect) in your application then you should give Hydra some consideration.
I did use Managed.VCL for a very early version of the system, but later abandoned it for the Prism/C# com interop approach which was simpler to deploy, and more stable.