On the subject of square v oval ccts and lookout suffering etc I know whih one I prefer.
The point of engine failure in the cct is a valid one. Why fly so far from the airfield that an engine failure could put you into a built up area. You could quite easily glide back to the airfield from a tight pattern and therefor stand a much better chance of walking away from it!
Secondly the bigger your ccts then the more NIMBY's you overfly and cause complaint. They are becoming ever more powerful so why give them ammo?
Thirdly with the cost of fuel these days its just going to cost you more. Less fun for your quids!!!!
My main point is that tight ccts are the way ahead. The key to flying them safely is discipline, both in flying accuracy and R/T usage. If we all keep the R/T short but accurate with the calls in the correct place and we all fly disciplined ccts then everyone knows where everyone else is. 5 A/C in the cct is busy no doubt but is in no way unsafe.
I invite any discussion.