The exact thing happened to my son. We knew at his first ped. visit that the circ was horrible (the dr. couldn't even tell if it was done). We were told to wait until he was 1 to have the surgery redone, because that is the age they can tolerate the anaesthetic a little better. I put it off for a while because I was scared to death about the whole procedure, and remained hopeful that maybe it would fix itself. Finally the pediatrician told me that I need to do it before he'll remember it, before he's old enough to notice the difference, and before potty training when he'd really notice. So, a couple months before his 2nd birthday, I finally got it done. I was still terrified about the anaesthetic, but the whole procedure overall was pretty seamless.
We took him in in the morning & they got to us right away. We sat with him while the nurses took his weight, etc. and told us what was going to happen. We met with the Dr. and the Anaesthesiologist. They gave him something to drink (I'm drawing a blank as to what it was) that basically turned him into drunk baby. I was really worried about a tearful good bye, but he was so loopy that he was almost happy to go! That definitely made the waiting easier. About 1/2 hour - 45 minutes later, the doctor came out & told us everything went fine. A few minutes later, they brought him out. He was screaming & scared, but they brought out a DVD player & put on Dora for him. Between that, and me, and some juice, he calmed down. As soon as he was calm & drank & ate something we got to come home.
The first day home was pretty lazy. He was STARVING all day as a result of the anaesthetic. We had bought him some new movies, books & craft things to help "keep him down". The first day went very smoothly. You have to ice the area all day, but through the diaper is fine. You also have to change him about every 2 hours & totally vaseline up the diaper. Diaper changes were very unpleasant for a while, since you had to wash the area (I used travel sized shampoo bottles -- one w/ mild soapy water & one w/ warm water to rinse). For the baths, they can't be submerged for a period of time (a few weeks), so we did a "super cool bath" where I just ran the water, washed him fast & got him out.
They can't straddle anything for a while (bikes, sit & scoots, etc). So, with the no straddle rule & the no submersion rule, I definitely wanted to get it done before it got nice out where he'd be wanting to climb ladders for slides, ride his bikes, and go swimming.
In all, the whole thing was a lot less terrifying than I played it up in my head. Anaesthetic still isn't the easiest thing to swallow, but beyond that, it was as easy as I could imagine it being.
We didn't go to Children's, we went through Dreyer in Aurora. I would imagine their procedure is similar. If someone would have told me all this when he was 1, I totally would have done it then. So, sorry my story is so long, but hopefully it puts you at ease a little bit! :)