just from my own experience cord was cut quick with ds1,he still had jaundice ( brought on severly by an ABO reaction ) that needed light therapy for a week following birth, with ds2 the cord was allowed to stop pulsating before it was cut and he suffered no jaundice dispite it being something that nearly all children in the family on both my side and DH's side suffered from.
i know ds1 had additional factors in his jaundice but the fact that ds2 had none at all dispite us expecting it because both OH and I were jaundiced as babies leads me to believe that the cord cutting time if anything went in ds2's favor, but would have made ds1 even more sick had it not been cut right away due to his complications