IMO, a properly managed light or set of lights work just fine. IMO, circles work well as long as the traffic isn't too heavy. We have bad mix of agressive and overly-careful drivers here so I hate think how that would turn out.
The lights that piss me off (or used to, they put in a bunch of overpasses recently) were the ones that were deliberately timed to prevent you from being able to cruise through the lights. They deliberately stopped you at nearly every other light, I assume to make sure traffic didn't get going too fast.