The cases of penile cancer is almost the same in cut men versus uncut.
Penile cancer: importance of circumcision, human papillomavirus and smoking in in situ and invasive disease.
http://www.ncbi.nlm.nih.gov/pubmed/15825185
Excerpt: However, 3 factors that did not increase the risk for in situ cancer proved significant risk factors for invasive penile cancer: lack of circumcision during childhood, phimosis and cigarette smoking. The high percentage of HPV DNA-positive tumors in our study is consistent with a strong association between HPV infection and the development of penile cancer regardless of circumcision status. Circumcision in early childhood may help prevent penile cancer by eliminating phimosis, a significant risk factor for the disease.