No, no good.
What you're suggesting is similar to a transmission cooler, not a heatercore.
Hayden tranny coolers have built-in turbulators, to improve the heat transfer, but note how the fins still stand at a fair distance from the tube.
If you want to go the circular route, you'd have to make this design decision: circular or straight fins? Keep in mind that there is a certain distance (or clearance) that you have to respect, between the tubes, otherwise the heat starts to travel from tube to tube, through the fins (actually, they "interfere" with each other).
The heatercore has odd shaped tubing, optimized for turbulence of the water, and maximum surface area, in and out.
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