I can't see how this could result in an increase in traffic or spread the noise around much. The only useable part of the circle is the into wind part, the rest is crosswind or downwind to varying degrees meaning that most movements will inevitably be from the same into wind sector, as will the approaches and departures. Then there's tyre wear, stress on the gear, the practical problem of landing in a turn, designing a whole new instrument landing system that can cope with a 360' runway...
Anyway straight runways aren't a faulty concept so why try to fix them?
Someone's on a nice little gravy train I fear.