For those who are heroic enough to be able to circle at 200 knots, or thereabouts, within 1.7 NM, I say more power to your elbow! For my own part, I would much prefer the greater safety afforded by Pans Ops procedures.
Speaking of safety what safety does a circle to land as per PANS OPS offer you while flying one with prescribed tracks? Shall we open up a can of worms?