I had my ears pierced when I was a baby. I was maybe 4 or 5 when apparently I decided I didn't want to wear earrings any more and I haven't since, the holes have long since closed. My sister also had it done when she was a baby although she continued to wear earrings (not sure if she still does but she did into at least part of her adult life).
The advantage to when doing it when you're very young is the pain isn't something you usually remember (especially when done as a baby). I wouldn't get my ears pierced as I was older, the anticipation and pain, etc would have made me say no way.
As far as the hole part in terms of what is being talked about it's extremely minor. If someone isn't comfortable with doing it to their child that's not an issue whatsoever, but in terms of ear piercings it's also not something I see an issue with whatsoever for other parents to opt to do it to their child.