I've not flown the loop, but I do routinely fly "Stars Wars", otherwise known as Glen Tilt. It is straighter but narrower than the loop.
At light aircrat speeds there is plenty of room, the turning radius of light aircraft is soo much less than a FJ that I would not let that part bother you.
Glen Tilt has 2 houses so there are Rule 5 issues - I usually climb up the east side to get the clearance - but the locals don't really notice a quiet Rotax! Obviously forced landing option are going to be pretty limited but that s your decision. Glen Tilt slopes from NE to SW so that helps. The loop I suspect has much less elevation change.
If you're happy with being 'in the terrain' and all the restrictions that brings why not?