Hi Jamie,
Did you get this working reasonably well? I’m not sure if there’s a capped limit on the number of body elements for a complete body, as I’ve only gone about as high as 9 parts. I’ve never heard of a limit, and since Box2D seems to cap some things at 8 (sides to a polygon for example), I’m hopeful that there’s no practical limit, and you could get quite detailed circular shapes. Of course, using a helper tool like PhysicsEditor would make it much easier (http://www.codeandweb.com).
I agree that improved fixtures would be nice, along with some other additions to the physics engine. However, we haven’t gotten too many requests for fixtures/positioning. If you’d like to cast your votes for this or other physics-related additions, you can do it here… assuming you haven’t already expended your votes. 
http://feedback.coronalabs.com/
Brent [import]uid: 200026 topic_id: 35362 reply_id: 140813[/import]