Considering that's a NURBS attribute and this is a polygon mesh, that makes no sense. In any event, I can use the circle as a guide and scale in the verts to make things more circular. I simply wanted to test if the oblong shape was something I just noticed or if it was that way with past versions.
I'm pretty much done with the overall 2009 testing and am heading back to 2008. Unfortunately, in my case, I'm experiencing too many instability issues on my old XP box. with the way 2009 caches RAM. For example, doing the simple examples above drove my CPU processes up to 97% percent, freezing up everything...this happened three times in a row and apparently from what I've read at CGtalk is a common issue. There are some new features I like but nothing that would prevent me from getting any work done so....well, there you have it.
"Terminat Bora Diem, Terminal Auctor opus."