Generally speaking, that would indeed be my preference. As some others pointed out earlier, communication can alleviate a lot of conflict. BUT, the communication needs to be effective. In the actual scenario, it was not effective.
So, here is what actually transpired: I was in the single (T6) doing pattern work and making standard announcements. As I turned x-wind, I hear a Twin Comanche make an announcement saying he was 'tear-dropping for the 45 to the right downwind'.
Upon hearing that I looked out to toward the 45 and saw nothing. So, turned onto the downwind and in hopes of alleviating any potential conflict, I announced that I was on the right downwind as soon as I had leveled. About a second or two after I made the announcement, Twin Comanche announces that he is on the right downwind and has traffic in sight. Now I am concerned. How in the heck this guy made a teardrop and 45 degree entry seems to defy physics and now he's potentially very close to me and I can't see him anywhere. As I'm still looking for him (I'm passed mid-field now) he announces he's on right base. I'm like 'how in the heck is this guy on right base already? Now I see him, he is about a hundred below me, at my 11 0'clock and crossing directly in front of me. I climb a couple hundred feet to increase separation and slow down since I'm going to have to wait for him and NOW he gets concerned and calls me and wants to make sure I see him. I reply that I see him and leave it at that. Extend my downwind and slow down considerably as he apparently decides to slow way the heck down once he's on final.
Essentially what happened was the dude either had already completed his 'tear drop' and added confusion to the situation by using the term or he decided to do a steep turn in hopes of getting ahead of me and he turned downwind WAAAY wide and overtook me only to turn in front of me on base.
No harsh words were spoken or right of way arguments were held. I think ultimately he scared himself more than me. I posted the question out of a general curiosity of what others would do in his situation. I have found myself in the twin drivers situation and like a few here, I would have simply done a left 360 for spacing rather than try to overtake another airplane on downwind, even if it was a cub. I'm not sure why he thought that was a good idea.