I think part of the risk of vaccines is that kids get so many all at once. This includes shots that combine many vaccines into one, as well as many shots in the same visit. Perhaps getting them spread out over time is better (albeit more costly) than getting them in waves at birth, at 2, at 5, etc.

That being said, when given the choice between millions of kids dying from disease or thousands becoming physically or mentally disabled from vaccines I'll take the latter. As a result all of my kids are vaccinated (though I personally pass on the flu vaccine and if I'm sick I sequester myself away until days after I feel better).