Tee Emm, I think you are confusing Circling Approaches with visual approaches. The circling minima is quite often around 300' AGL. It is more likely to be around 600-700; but it is very unlikely to be 1500. Getting PNF to use the FMC and monitor your progress is far safer than both pilots looking outside during this extremely critical manouvre.
JW411, I have no wish to shoot you down....................however;
At the completion of the downwind, timed leg, you will need to commence a gentle (200fpm) decent as soon as you turn the heading bug onto the runway heading. Also, at the same point you will need land flap deployed, Approach speed nailed and the Landing Checks completed as you commence the turn.
Airbrakes or speedbrakes should never be extended with the Flaps extended beyond 10/15 degrees on Boeing or 2 on Airbus.
Gear Down and Intermediate flap must be lowered at the normal point prior to the approach on the Non landing runway. The whole procedure needs to be flown at 150 kts or so until the point where you begin timing abeam the runway.
You can decend below the circling minima as long as you can see the runway. You don't have to be lined up on the centreline before you decend. If you maintain Altitude until you are lined up you will never get down onto the runway.
Otherwise, agreed with the rest!As you rightly point out, preparation is all.
Detailed and thourough preparation is the key to doing this right. Rush the briefing and you will cock it up, no question.