One of those really useful elements is ‘jcarousel’, wich you should know [I mean, if you came here from google searching for a 'working circular carousel'!!!] but lack of a full support for circular carousel.
The example in the official document needs the content loaded on-the-fly, not covering the most usual case, where the content is put into the markup [<ul> <li> sequence] and I found nowere a working example for such case. Since I had to figure i out how to make it work for a project I recently come across, here you go.

The idea is quite basic: you use the callback functions to create on the fly elements that you put in the hidden area before starting the animation; the only thing I changed respect the original example is that i use the jcarousel.get() method to get the content from the existing list instead of getting it from WWW, I also added auto start, pager and other nice features, but of course your need may be different.

make good use of this one!!