I'm coming into this a little late, but I love my penis, which is cut, and have always liked the fact that it was cut in terms of appearance. I do think this has a lot to do with familiarity. Lately I've been working in porn, and have had the opportunity to see a number of uncut cocks, and in my opinion uncut looks just as cool... just different. So, I'm pretty sure if my parents had left my foreskin intact, I'd like it just as much.
As for sensitivity, I've never had any complaints... feels great to me. I wonder how a guy would know that he's been desensitized by having his glans more exposed, if he's always been that way?