1. The Sacramental View - (Roman Catholicism) This view teaches that grace is administered through the use of physical and visible elements. God's grace is placed upon a person regardless of the presence of faith within that person.
2. The Covenantal View - (Protestants) This view teaches that baptism is the seal (or sign) of the new covenant replacing circumcision. Grace inheres the soul when faith - either by the candidate, or by parental proxy; and the Word and the water are administered. Pedobaptism is not an issue.
3. The Convinient View - No baptism at all.
4. The Post-modernist View - Any which way will do. You may or may not want to participate, that's just fine. If you want to, we can back-flip you into the pool. "No one is going to push us into a doctrinal corner."