PLT LNDG LOT; AN UNCTLED ARPT; GETS TOO CLOSE TO ACFT AHEAD AND MAKES A 360 DEG TURN ON FINAL FOR SPACING.

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ARRIVED LOT FROM THE W. NORMAL ENTRY TO DOWNWIND LEG; L TFC; FOR LNDG ON RWY 27. CESSNA TFC WELL AHEAD IN PATTERN. BOTH PLTS/ACFT AWARE OF EACH OTHER WITH VISUAL AND RADIO CONTACT. CESSNA TFC FLEW EXTENDED DOWNWIND LEG; WHICH TOOK HIM OVER A DEEP GRAVEL PIT. I DO NOT LIKE TO FLY AN EXTENDED DOWNWIND AT THIS ARPT (FOR RWY 27) BECAUSE THE GRAVEL PIT POSES A REAL HAZARD IN THE EVENT OF ENG FAILURE ON FINAL. I FOLLOWED THE CESSNA AND; ALLOWING FOR SAFE SPACING; TURNED BASE NOT QUITE AS FAR OUT AS HE DID. THIS SHORTENED THE INTERVAL BTWN US SUCH THAT WHEN I TURNED FINAL HE WAS STILL ROLLING OUT ON RWY 27. SINCE THE CESSNA THEN DELAYED HIS TURNOFF (IE; REMAINED ON THE RWY); I DECIDED THAT OUR SPACING WAS NOW INADEQUATE. RATHER THAN EXECUTE A FULL GAR; AND BECAUSE I WAS STILL AT 400 FT AGL (PERHAPS HIGHER); I ELECTED TO PERFORM A (L) 360 DEG MANEUVER FOR SPACING. THERE WAS NO OTHER TFC IN THE PATTERN AND IT WORKED OUT WELL. REFLECTING ON THIS ACTION LATER; I DECIDED THAT IT WAS A POOR JUDGEMENT CALL. LOT IS AN UNCTLED FIELD. THERE COULD HAVE BEEN A NO-RADIO ACFT THERE THAT I DIDN'T SEE; AND HE WOULD HAVE NO WAY OF ANTICIPATING A NON STANDARD MANEUVER (SUCH AS A 360 DEG TURN) ON MY PART. TIME CONSUMING AS IT WOULD HAVE BEEN; A FULL GAR WOULD HAVE BEEN THE BETTER CHOICE.