For Thaumaturgy, I'd have to say that a Circle is a maneuver + tag effect.
For blocking magic itself, it seems to be an near absolute in the books, given that Binder was so thoroughly slapped by Molly's circle in Turncoat. Keep in mind that the circle Molly drew (in gravel, in a hurry) probably was not the perfect circle we'd associate with it such a circle but was still effective. It's still a ritual that relatively fast and that anyone can perform--ask Mr. Butters.
Perhaps plot-device capable entities (Uriel, perhaps, or other such being) may laugh at a circle, especially if they are outside it.
For summoning magic, I'd have to say the longer you take to make the circle (see trading shifts for time scale), the better the tag such as when Harry summoned/trapped Mr. Erlking. OR
note that number of items Harry placed in the Circle, each item perhaps being a tag. Given the power of the Being he was attempting to summon and keep there, he'd have needed them.
Note that Harry has a Circle in his basement that he can tag, plus another tag for the copper (Resources,maybe? Deceit or Burglary for my own sorceror) and tag for the little sigils in the ring (certainly another tag, perhaps Resources another Contacts).