I have customized my drawing toolbars to include the legacy rectangle sub toolbar. I think there is no reason to not use them. Nevertheless, you should be aware, that the text box shape and the rounded rectangles from the category “Basic Shapes” as well have better features in regard to text content.
Setting the corner radius of the “new” rounded rectangle is more complex but not really difficult. When you look at such shape with the “Development Tools” you can see the location of the associated attribute:
tab Properties > CustomShapeGeometry > Find the item “AdjustmentValues” > Value.
Depending on whether it is our own rounded rectangle (type “rounded-rectangle”) or imported from pptx (type “ooxml-roundRect”) the adjustment value is relative to the range 0…21600 or the range 0…100000. In both cases the shorter edge of the rectangle is the reverence length.