Yeah, the hold circle is BS for majority of the bigger fights. Direction holding, letting circle go or not, position of the attack, judicial warp striking, link attacks, block and party and counter attack setups, team techniques, magic, weapon switching on the fly, and so on. Combat system gets quite complex if one wants it too and it's a huge must if you want to tackle higher level mobs.
I personally love the shit out of combat (Wait Mode is a must) and I expected to hate it. I compare it favorably with better Tales Of entrees. Oh, one thing you can do for positioning. Warp to a point that you want your team to go and then use Ignis' Regroup. It works very well especially if swarmed.