Yes I’ve used magic loop with 2 loops. My difficulty has been where there is no way to spread stitches so that there are some on each needle shaft and some on the cord. The number of stitches just do not spread far enough. Maybe its just me. Fighting to knit one stitch does not make for a fun time or even tension.
I recently bought a set of circulars with a shorter shaft, interchangeable chords but the main point being the shorter shaft which I think could help me work some pieces in the round which would previously not been possible. The shorter shaft is actually not very comfortable for me though (my style of knitting, i throw but don’t drop the right needle to throw) but better suited for continental which I can do - although really I’d like a yarn in each hand for colour.
I actually can’t remember now the projects where I’ve been knotted up in the circular problem… not hats, must be something smaller.