MD88 LNDG EWR EXPRESSED CONCERN REGARDING SEPARATION BTWN ACFT LNDG RWY 29 AND RWY 22R.

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ON APCH WE WERE TOLD WE WOULD BE CLRED ILS RWY 22R; CIRCLE TO LAND RWY 29. AT 8-10 MI WE WERE SWITCHED TO TWR AS WE INTERCEPTED THE LOC TO RWY 22R. THE TWR TOLD US WE WOULD BE SHOOTING A STRAIGHT INTO RWY 22R AND TO BEGIN TO SLOW BECAUSE OF DEPS OFF RWY 22R PRIOR TO OUR LNDG. I NOTICED SPACING BEHIND THE ACFT IN FRONT OF US WAS VERY GOOD (APPROX 5 MI). WE NOTICED AN ACFT TRAVELING L TO R AT OUR 11 O'CLOCK POS WHICH I INITIALLY THOUGHT WAS A DEP OFF OF RWY 11; BUT REALIZED THAT IT WAS THE ACFT IN FRONT OF US BREAKING OFF HIS APCH TO RWY 22R IN ORDER TO CIRCLE AND LAND RWY 29. TWR TOLD US TO SLOW TO FINAL APCH SPD BECAUSE WE HAD TO LAND 'BEHIND' THE ACFT CIRCLING TO RWY 29. SINCE WE WERE APPROX 1800 FT AGL WE HAD ALREADY BEGAN TO SLOW. I REALIZED THE SPACING WAS TIGHT; HOWEVER IT APPEARED WE WOULD PASS BEHIND THE ACFT AS IT ROLLED OUT ON RWY 29. AS THE OTHER ACFT TOUCHED DOWN AND DECELERATED; WE PASSED OVER IT AT APPROX 200 FT. I HAD LEVELED OFF AS WE PASSED OVER RWY 29 AND LAND UNEVENTFULLY ON RWY 22R. MY GREATEST CONCERN WAS THE OPPOSING ACFT EXECUTING A MISSED APCH WHICH MAY HAVE REQUIRED EVASIVE ACTION ON MY PART.