There are known risks to general anesthesia ... including a very small chance of death. Also, the infant or toddler penis is pretty small. Do you really want a resident learning how to do operations on your son's penis?
If the parents really have their hearts set on circ, you can suggest it be done at age 18.
With the penis fully grown, the scar can be placed exactly where the 18 year old wants it (near the head vs. on the shaft.) The amount of skin removed can be exactly tailored to the adult size of the penis. There will be no messy diapers and BM on the penis - lowering risk of infection. Decreased risk of meatal stenosis, damage to the head of the glans, adhesions, skin bridges, etc. If a penis is going to be circed, the absolute best "cosmetic outcome" will be gotten with the adult procedure, done by a
cosmetic surgery specialist. They can even do a penis lengthening procedure at the same time (cutting the ligament underneath) if that is important to the parents.

And at 18, it will be possible to find a doctor to do it under local - to avoid the risk of GA.
As a bonus, the 18 year old will be able to refuse the procedure

You can find pictures of damage from infant circs here:
http://www.noharmm.org/IDcirc.htm
(graphic!)