We "delayed" cutting DS's cord and he developed mild polycythemia. His symptoms included pretty severe jaundice and rapid breathing. Thankfully, my midwives didn't panic but rather watched him very closely at home and reassured me that it was resolving on its own. His breathing normalized within 36 hours, the jaundice was gone within 4 days and his levels had normalized by then. We have a very sunny house so we cranked the heat and kept him naked for his first three days to avoid going under the lights for the jaundice. He nursed well and nearly constantly in those early days so we were reassured that he was getting lots of fluids. No transfusion or IV fluids or any other treatments were required. I wasn't able to do any research at the time so it wasn't till several months later that I made the connection to having waited to cut the cord. I was recounting my birth story to an OB friend and he mentioned it as a possible cause.
I'm not quite sure what we will do with this baby. I feel very fortunate that with DS, I had one of the most experienced midwives in my province looking over him and she knew that his condition would resolve. If I hadn't been in such good hands we might have ended up in the hospital going through all sorts of alarming procedures. Or if his condition had been any worse, perhaps we would have missed the signs and not gotten help in time to avoid the more serious complications of polycythemia. This time we have a different midwife who is less experienced although I will be more informed.
Sorry this isn't very helpful. I have to do a lot more research myself before #2arrives in October.
Happy mumma to my boys Henny Tom (Nov 30, 2008), Arlo Odie (Oct 5, 2010), and baby SISTER! due mid-Dec 2014.