Coming from India, this subject has special interest to me, especially since i've witnessed it many times. I never lived in India, but have visited many times. The cobra (especially the king cobra) is worshipped in most parts of India. In the Hindu religion, it is sacred. In Buddhism, it is also revered. According to legend, a cobra spread it's hood to shade Buddha from the sun while he was meditating. In return, he touched it's hood giving it the monocle marking (of the monocle cobra of course). In Hinduism, there is a similar story of Krishna touching a cobra with two fingers make a spectacle, on the Spectacled or common or Indian cobra, whichever you prefer to call it. A little off the point.
Anyway, at least in India, most cobras are not mutilated for charming purposes. Venomoid surgery at best is rarely performed, and removing fangs is a very temporary solution that is also rarely practiced. It's all about understanding physical limitations of cobras and exploiting them. Kissing a king cobra on the head is impressive, but if you keep the rest of your body out of it's strike arc, you are relatively safe (DON'T TRY THIS, THIS IS JUST HOW SNAKE CHARMERS DO THIS TRICK, AND THEY ARE STILL TAKING A RISK)...this is because cobras cant strike upwards. Their strike is in a arc toward the target. If you stay out of that arc, you don't get bitten.
Chance is right about your likeliness of seeing a king, much less being attacked by one, in the wild. I'd say the only time you'd be "attacked" is if you came across a nesting female. This of course would be a 1/1000000 chance, and I'd be incredibly envious. I've seen a few kings being used by charmers. One had a 12 foot king that was definately intact (hot) and very active and alert. He did the head kissing bit, and waved his flute around and all that good stuff. Impressive, but not something i would try. I look forward to doing some serious herping the next time i visit. Sorry to gab.
AP