MB,
I've got to support my formation buddy, Stik, on this one and am saddened to hear you tar all "fast aircraft" pilots with an undeserved brush. Your statement is the same as saying that all microlight pilots are selfish, uninformed, and dangerous cowboys; and we both know that's not true. I'd be interested to hear of personal experiences you've had with pilots conforming to this reputation.
You may have misinterpreted Stik's description as I don't know of any pilot who would be careless enough to bring in a formation under an aircraft on final or interfere with an aircraft on final in any way. Standard procedure if Lead does find a conflict is to stay at circuit height and complete a standard circuit orbit, with an extended downwind, to re-establish a run-in from the initial point.
My experience, as one who has participated in, and led, RIABs is that the pilots concerned are very aware of the active traffic and take great pains to sequence into the circuit to avoid disrupting others. This preparation starts on the ground at the departure point before anyone even gets into a machine, briefing local procedures and circumstances at the destination. Sure, you may get a racey-looking break, but it is usually well planned and done to take full account of other traffic.
Of course there are always exceptions, but as I go out of my way to be where these kinds of things are done, my experience has been as I've described and not as per the reputation you're talking about. I don't think most fast aircraft pilots need to ask themselves about this reputation.
Pitts2112