Remember that prior to those ovals, we all had to practice drawing all of those slant lines; row after row, after row, after row? It was all so boring, but paid off later!
We started cursive in third grade ( with pencils ) and proudly graduated to straight/dip pen in 4th grade. We were all so very proud and felt so grown up, when we could use ink!
The running ovals made sense but I never took to those slanted lines...but it certainly paid off as you say. It is a good feeling when people comment on our handwriting being so pretty...Something we took pride in.