I'm circumcised, happened at infancy and so I don't know what it's like any other way.
The big thing I've heard is that the foreskin makes sex more comfortable for women, since the penis has more "slide" because of the extra skin.
Probably won't have it done to the kids. They can always have it done later if necessary. While statistically there seems to be a slightly lower transmission of HIV in circumcised men it isn't nearly enough to rely on.