personally i dont agree with piercing a babies ears.
I know there are some cultures who do this, the indians for one and hispanic as you mentioned, i wonder what the reason behind it is, can someone please explain.
It may only be like having a shot, but why put your baby through pain it does not need to feel,for what because you think it looks cute.
And yes i do have have my daughters ears done and my own, but she was 8 years old and it was her CHOICE, however there maybe something in what was said that regarding cartilage in the ears, as i was 18 when i had mine done, and i dont care what anyone says it did hurt and they throbbed for around 2hrs after.

I also had trouble with one of my daughters ears, kept getting swollen, etc, it took around two years to come right, i am sure some of these babies ears get infected too or they have some problems, sure they can grow over if you dont want them when you are older, but then what was the point in the first place ,beats me,, i guess i am on my own in this way of thinking , but thats how i feel on the subject, maybe i am old fashioned who knows, but i dont think its cute at all.