I'd have them removed. You just know that the child's friends and classmates are going to consider him/her abnormal and will probably make fun of him/her. I don't know that I'd go so far as to say the child's life will be "destroyed," but why ask for more heartbreak that kids get anyway?
Having it done when the child is an infant is also far preferable to waiting until the poor kid's in elementary school and he/she'll have a vivid memory of the surgery. Plus, I'd think the earlier it was done, the more likely it is that the baby will heal without the same kind of scarring.
Unfortunately, my son's in elementary school right now and I know for a fact that some kids can be cruel monsters. Even without any kind of medical abnormality, kids just make fun of kids they think are different in any way - cool or not, it's like slapping a banner on the kid asking that his peers make fun of him/her.
*Edit for dumb spelling mistakes