The AAP has finally released their revised policy statement: http://healthland.time.com/2012/08/27/circumcision-pediatricians-say-benefits-trump-risks/ 
From the article:
- Until now, the American Academy of Pediatrics (AAP) has remained fairly neutral on the subject. But on Monday, the influential pediatricians’ group updated its policy statement from 1999, stating that the “preventive health benefits of elective circumcision of male newborns outweigh the risks of the procedure.” The organization stopped short of routinely recommending the procedure for all baby boys, noting that the decision of whether circumcision “is in the best interests of their male child” should be left up to individual families. But they added that those families that choose circumcision — and most U.S. families still do, although the practice has been on the decline — should be reimbursed by insurance.