A group of Italian researchers who examined the effects of female circumcision on sexual functioning cautiously reported some surprisingly and remarkably positive results:
The group of 137 women, affected by different types of FGM/C, reported orgasm in almost 86%, always 69.23%; 58 mutilated young women reported orgasm in 91.43%, always 8.57%; after defibulation 14 out of 15 infibulated women reported orgasm; the group of 57 infibulated women investigated with the FSFI questionnaire showed significant differences between group of study and an equivalent group of control in desire, arousal, orgasm, and satisfaction with mean scores higher in the group of mutilated women. No significant differences were observed between the two groups in lubrication and pain.
The entire article can be downloaded here: Catania et al., 2007.
Their results are hard to believe, as the circumcised women reported better sexual functioning than what you'd find in a typical Western population.
The study has been criticized for several reasons, including: poor control group; measures normed for Western cultures; and bias associated with self-reports. However, similar findings have been reported before. In these cultures, it's likely that female circumcision is a key part of women's identities as sexual beings. And perhaps that strengthened identity is associated with better sexual functioning.
Some have suggested that a possible compromise might be genital nicking. Rather than removing the vulva, the vulva are nicked instead. A description and background can be found in this New York Times article.
The New York Times has reported extensively on female circumcision. All the articles can be found here.