Parentheses are placed symmetrically with respect to the math axis, an imaginary line a bit over the baseline, that can be seen by typesetting a fraction, because the fraction line lies exactly on the math axis.
A problem with fences around an expressions such as
\sum_{n\in\mathbf{N}} 2^n
\sum_{n\in\mathbf{N}} \frac{2^n-1}{2^n+1}
depends on the whole expression to be enclosed.
After observing that \left( and \right) will give poor results, the choice can be between \Big and \bigg. Here's a visual comparison.
\documentclass{article}
\usepackage{amsmath}
\begin{document}
\begin{gather*}
\Bigl(\,\sum_{n\in\mathbf{N}} 2^n\Bigr)
\quad
\biggl(\,\sum_{n\in\mathbf{N}} 2^n\biggr)
\\[6pt]
\Bigl(\,\sum_{n\in\mathbf{N}} \frac{2^n-1}{2^n+1}\Bigr)
\quad
\biggl(\,\sum_{n\in\mathbf{N}} \frac{2^n-1}{2^n+1}\biggr)
\end{gather*}
\end{document}

I'd probably use \Big for the first kind of formula and \bigg for the second one.
Something like
\[
2+\left( \raisebox{1.5mm}{$\displaystyle\sum_{n\in\mathbf{N}}2^{-n}$} \right)=4
\]
that produces

is clearly unacceptable. Nor is better
\[
2+\raisebox{-1.5mm}{$\displaystyle
\left( \raisebox{1.5mm}{$\displaystyle\sum_{n\in\mathbf{N}}2^{-n}$} \right)$}=4
\]

\biggl( ... \biggr)rather than\left( ... \right). I.e., the size of the "fences" chosen by\left( ... \right)are too large. – Mico Apr 16 '13 at 13:51\biggas the explicit size instruction. – Mico Apr 16 '13 at 14:44