Interesting comments all around here, and thanks to all for sharing.
There were three pediatricians at the practice I went to, and they were all over the map.
One would touch but not look, which sounds counterintuitive. He'd just reach into my underwear to do the genital and hernia exams without lowering the waistband while I was laying on the exam table (I recall him once lowering it just a tiny bit so that the head of my penis was still covered up). Other times, he'd stand behind me, pull my underwear down, and reach around to check my testicles and do a hernia test (often, embarrassingly, while I was standing facing my mom).
Another doctor, the one who I saw most frequently, would go right for it. He'd pull my underwear down far for a close look, do a lot of pushing over my pubic hair (or the area where my pubic hair would eventually be when I was younger), sometimes pushing hard enough for it to be uncomfortable. He'd manipulate my penis to see it from all angles and feel my testicles carefully while I lay down.
The last doctor I saw only twice: once when I was 13 and again at 18. The 13 y/o exam was the only time a doctor there had used gloves during the genital exam part. He really took his time, taking a seat in front of me while I stood and lowered my underwear (also the only time I was ever told to lower them myself) doing a careful testicular examination and taught me how to examine myself at home. He continued with a thorough hernia exam, asking me to "tighten up" my muscles in the area multiple times as he felt both sides. When I saw him again at 18, the exam was quicker. He didn't use gloves. I was still standing, but he pulled my underwear down for me instead of asking me to do it. He barely touched my testicles, and when he did the hernia exam, I had barely "tightened" on one side when he hurried to check the other.
All were very interesting, especially the variation between them all. The use of gloves only once puzzled me as well, and it made me feel somewhat "dirty" at that visit even though I knew that gloves were common during regular exams.