We decided that it was more important for the baby to get the cord blood at the time of birth. To store cord blood you need the cord clamped immediately and this means that the baby doesn't get the blood. If the cord is clamped late, the cord blood that the baby receives keeps their iron levels high for longer and who knows what other benefits there are from them receiving the stem cells which were always intended to flow into the baby at birth.

There have been a few other threads on this recently with really good info on the pros and cons. If I have time I will find a link, but in the meantime feel free to have a search for them yourself.