I don't really know what's best either way, but my dog was neutered at 8 weeks with no ill effects yet, and he is about 5 1/2 years old now. He recovered quickly, seems to have matured just fine...my cats were spayed and neutered at (i think) about 10 weeks. All of these guys were done at a spay and neuter clinic, so this is fairly routine, and all recovered quickly, with seemingly little to no pain. My cats (almost 4) are both fine, and there is no spraying and no ill effects seen yet either...
I don't know what is truly best, but from my experience, early spaying/neutering has been fine, and after having a dog get ovarian cancer, I will probably continue to spay and neuter all of my future pets fairly early. (It's also cheaper...) I also volunteer at a humane society, and all of their animals are spayed and neutered before leaving, so I think if there were major issues this would probably change...though I totally understand the reason!