I believe that we need to keep our distinctions straight.
intrinsically vs. extrinsically
objectively vs. subjectively
Removal of the foreskin is not intrinsically evil, since various considerations could justify doing it.
It's confusing to assert that circuмcision is "objectively" grave matter without any qualifications whatsoever. This suggests that the only reason one would be excused of mortal sin would be if the person was duped into thinking it was OK, only based on mistaken reasoning. This is obviously false. What if there was an infection or other defect that would warrant the removal of the foreskin? Even limb amputation is not always objectively grave matter. There are many situations where it's required to save the life of a patient.
If, as we have established, circuмcision is not intrinsically evil, then it's the formal intent (objectively speaking) which defines its morality. Formal intent relates to the intrinsic vs. extrinsic distinction and not to subjectivity. Clearly, the Church teaches that any formal intent involving the observance of Old Testament ritual law entails mortal sin. Notice that this is OBJECTIVELY. Subjectively, someone could even on that count be excused or moral sin if, say, a recent convert was ignorant of Church teaching on the matter ... not yet having been thoroughly catechised about this particular subject.
By stating that circuмcision is always objectively grave matter, JayneK is effectively asserting that NO formal intent could ever justify circuмcision ... which is the equivalent of saying that it's intrinsically evil. But at one point earlier in this thread, she agreed that it was not intrinsically evil. Only subjective issues (confusions or error) could justify it.
And that's clearly false, since the formal intent of doing a medically-necessary procedure justifies circuмcision ... whether you believe that most of the reasons typically given are valid. In the hypothetical case where it WOULD be necessary (say it's badly infected), then that would clearly justify it. So not intrinsically evil by definition.
So, at the very least she would have to state that in most circuмstances, or ordinarily, circuмcision constitutes grave matter. And then the debate becomes whether or not the reasons given for its medical benefits are valid or not.
At one point, JayneK suggested "double effect" as the principle to justify circuмcision. This again rests on the presumption that no formal intent could justify it, that it's intrinsically evil. But double effect does not apply here. There's only one actual effect, removal of the foreskin. I believe that she was confusing "end justifies the means" for double effect. Take the standard example of double effect usually given, a procedure done to save the life of the mother which then ends up in the loss of an unborn child. There might be a procedure, for instance, which helps restore the blood supply to the woman, but it also has the effect of eliminating the blood supply to the infant. Even that procedure must be done in a very specific manner so as not to directly attack the child. That's one procedure with two effects. When speaking of circuмcision, there's one procedure, removal of the foreskin and the effect is ... removal of the foreskin. But the REASONS for why this is done may vary. I am removing an infected part of the body, for instance, vs. I am obeying God's command. Both those are different formal intents, not two different effects.
Until the Church specifically intervenes, there's a certain amount of freedom of opinion regarding the benefits or lack thereof (of circuмcision). It's in the realm of difference of opinion among Catholics.