Nice looking hoop!
All I remember hearing years ago was that a round hoop was better than an oval hoop..something about that an oval hoop could distort the quilting because of the differences in the length/width of quilting area.

I prefer a rectangular Q-snap to a round wooden hoop, but there are a number of reasons. One is that I prefer the lightweight frame with clamps to the double ring that's screwed to tighten it. Another is that I'm only 4'11, and I find it easier to manoeuvre an 11" X 17" Q-snap so that I can get to all bits of it, than I can to reach across a 16" round hoop. And a 14" round hoop starts to get a bit too small to get the tension right and to get enough into it. I vastly prefer square or rectangular frames because they tile neatly across the quilt, whereas with round ones you end up with your hoop partly over a section you've already quilted. Borders work out better as well.