I don't think sensitivity is the end all, be all though. Though anecdotal, I have a friend who is uncircumcised who says he can't enjoy oral sex because he's TOO sensitive and it's unenjoyable for him.Without a doubt. I think the waters get murky as the debate often devolves into "well I still feel pleasure during sex!".
Well duh, we all do. The "technicalities" around sensitivity are important, because factually speaking, yes, there is a change. Part of that change isn't just the removal of skin, it's what happens to the glans when it has to deal with being constantly rubbed by cotton (or silk if you got some $$$ to spend on underwear!).
Like I said before, people can shout up and down the hills about sensitivity, but I can't miss something I never had experience with. Therefore, I don't care. I'm happy I was circumcised as a newborn and that's about it.