I haven't been too active here, but I've enjoyed reading the stories and thought I'd add ours.
As you'll read, our son was born blue and took his sweet time breathing. It was a bit scary, but we stayed calm and kept working at it until his color changed.
In hindsight, I think that there were several factors. First, I think his cord was a bit too short, and it also seemed fairly thin compared to our other babies. Then the bath water and room air both could've been warmer. (Probably would've been fine for a pink baby though) Also, in our efforts to stimulate breathing, we didn't change out his towels fast enough and they were damp. Anyway, he's fine now, but in case you're wondering, those are my thoughts about it. :-)