Veruka, 767 oval base? Really? The diagram I'm looking at, whilst not particularly clear, implies a 'square' base. Given the speeds on crosswind and the turn to downwind (as opposed to the speed coming across base and then F30 prior to the turn onto final, I'm not sure how you can fly an oval base unless using a very small angle of bank all the way around. Remember the old trick with the trend vector being a 1/3 of the way the final approach? You can't do that on an oval base.
I'll leave the discussion as to whether a C172 should be flown the same way to other people.