Flying around MID at 2400ft is not a lot better than flying in a circuit
Otherwise, if one flies around at reasonable levels, say 3500ft+ rather than 2000ft where a lot of people like to sit, there is very little traffic.
Abroad I fly at 8500/9500 or higher. Best MPG is at 8500 or so.
One can get very hung up about this. Statistically there is no support for it though, and I would never pay the £15k-20k for a TCAS. Especially not until transponders are mandatory. A radar altimeter, less than half the price, for those DIY approaches into [name your favourite English/Welsh airfield with a perpetual cloud cover and a dodgy NDB] would be a lot better