Actually our pediatrician feels that one should feed the baby as they are hungry - follow their cues. Once they are full (turning of the head, closing mouth) you quit feeding. A chubby baby doesn't mean an overweight toddler though. My 3rd baby was born on Feb. 8th and weighed nearly 10 lbs 7 ounces at birth. His sheer size means he consumes more food than a smaller baby. I wouldn't restrict his calorie intake though!! That could easily affect his future height potential, his brain growth and much more - such as reaching milestones in the first year. They key rather is to encourage movement - tummy play, then crawling and being active as a toddler. Not just having them lay or sitting around when old enough to move.
Formula gets a lot of bad rep these days but it has a place when a woman cannot BF (I cannot due to medical issues). What it does is shame mothers when no shame should exist. Sure it is great if a woman can and she does it for at least the first year but it doesn't always happen.
PS: I'd say the obesity has more to do with being inside in school all day - how much play time do these kids get? And that pesky Western diet doesn't help either.