A.,
I had my boys circumcised. There is a greater chance of infection, simply because a lot of men just don't pull the skin back and clean thoroughly there when they bath. They also don't tend to pull the skin back a little when they urinate, so some urine/wetness can remain, which can also lead to infections.
I don't agree with the belief that God put it there for a reason. God had made a covenant with Abraham (I think it was him) and as part, all males were to be circumcised. You will find very few practicing Jewish males that are not circumcised for this reason.
Also, at this point, they would most likely use anesthesia to do it, so he wouldn't remember the procedure anyway.
As far as letting him decide when he grows up, most men would decide against it as adults, just as it is very difficult to get one to have a vasectomy. They can't deal with a doctor coming anywhere near that area with a knife and will avoid it at almost all costs.
It is really a matter of personal choice. If you decide against it, just make sure he learns to clean under the skin and keep it dry there.