Great Way Round arose because Brunel's original broad gauge lines avoided steep gradients, going round obstacles rather than over them. (But he was not shy of tunnelling when necesssary to keep the track as flat as possible - i.e. Box).Certainly the route from London to Exeter was a great way round via Swindon and Bristol until they built the line via Westbury (ca. 1900?). It is possible that the nickname was coined in circles not unconnected to the LSWR, whose route was much more direct, but by no means as level.
WassaiL! V