I wouldn't let him cry it out - there's just too much risk in the long-term. Some children just take longer and it doesn't make sense to punish him for waking up or for being hungry. It's a milestone and every child will get there on their own, there's no need to push.
There is some excellent information on kellymom about what REALLY is "Normal Infant Sleep." My kids NEVER "slept through the night," I mean all the way through the night, until they were way past 2, and that's also normal. I learned to accommodate in various ways, like getting to sleep earlier so I could wake up in the middle of the night to take care of them and still get enough sleep, taking naps with them on the weekend, and keeping them nearby so I wouldn't have to go tromping down the hall. But mostly, just accepting that this is the way they ARE, not trying to change it, just changing what *I* do so I can deal with it and not become a sleep-deprived zombie and still be able to get to work and function...
http://www.kellymom.com/parenting/sleep/sleep.html
Good luck, and if anyone tries to talk you into something you don't feel right about, look elsewhere for advice. (And don't discuss the subject with them.)