This topic is one of those things that will become controversial no matter what because it deals with:
- Parenting
- Ethics/morals/religion/consent
- The penis
For me, I have also recently had to think about this decision as we are expecting a boy early next year. I also have a background in health policy and work in an evidence based health organization
I will say to the OP that you question is quite timely, as the Canadian Paediatric Society very recently reviewed their position on newborn circumcision.
As of Sept 2015, the Society has maintained that they do not recommend the procedure for every newborn male. The American society has also reviewed their position, and also do not recommend it (citation needed)
http://www.cps.ca/documents/position/circumcision
Note the study is reviewing the procedure based on medical evidence only, and does not take into account of religious and ethical reasoning behind their decision
While there is some evidence that circumcision may convey some positive benefits, the risk/reward ratio is so balanced, and with availability of other procedures and options that can convey similar benefits (use of contraceptives, HPV vaccines), that it is challenging to make definitive recommendations for the entire male newborn population in Canada.
At the end of the day, it is ultimately the parents decision, and it should be made with all of the facts on the pros and cons of having the procedure done. If you do have the procedure, please ensure that it is done at the hospital by the OB doctor. While the numbers show most of the time everything is done correctly, the stats behind complications due to this procedure is higher than expected.
Lastly from a policy perspective, based on the decision, it is likely the procedure will remain uncovered by universal health care.