MULTIPLE RWY OP PARALLEL APCH SIMULTANEOUS APCH ACR X HAD CONFLICT WITH B747.

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ACR X ON DOWNWIND FOR THE ILS RWY 26 APCH. ATC GAVE US A R TURN TO INTERCEPT AND TO MAINTAIN 2000 FT; CLRING US FOR THE APCH. ATC ADVISED US OF A B-747-400 AT 12 O'CLOCK IN OUR TURN. I SAID; 'WE ARE STILL IN THE CLOUDS.' I THEN SAW THE 747; AND ASKED 'WHERE IS THE 747 GOING?' (HE LOOKED AWFUL CLOSE.) THE CTLR SAID; 'HE'S ON THE SIMULTANEOUS APCH FOR RWY 27.' THE INITIAL TURN-ON WAS TIGHT AND CAUSED US TO OVERSHOOT THE RWY 26 CTRLINE. WE WERE TOLD TO MAINTAIN 180 KTS. I TOLD THE FO; WHO WAS FLYING; TO BE READY FOR POSSIBLE WAKE TURB. APCH THEN SAID; 'SLOW TO 150 KTS.' I SAID; 'WHAT SPD?' (BELOW 170 KTS WITHOUT PLT CONCURRENCE IS NOT IN ACCORDANCE WITH THE AIR TFC CTLR'S HANDBOOK.) HE SAID; '150.' I SAID; 'THAT'S A LITTLE SLOW FOR OUR WT.' THE CTLR SAID; 'SIR; IF YOU CAN'T DO IT; YOU SHOULD TELL ME.' WE WERE IN AND OUT OF CLOUDS; AND THE TCASII SHOWED THE B-747 TO BE 2 MI AHEAD FOR RWY 27. THE CTLR SAID; 'DO YOU HAVE THE FIELD?' I SAID; 'NEGATIVE.' HE SAID; 'COME R TO 310 DEGS; MAINTAIN 2000 FT. I'M BREAKING YOU OUT AND BRINGING YOU BACK AROUND.' HE THEN ADDED; 'SORRY ABOUT THAT; MY FAULT.' IT APPEARED THAT THE CTLR HAD MISJUDGED TURN AND WIND AND GOT US TOO CLOSE TO THE 747. HE TOOK CORRECTIVE ACTION WHEN HE REALIZED IT.