Would I have loved another series of LoM UK? At the end of S1, I would have said yes unreservedly, but then S2 came and --- I liked it, it had my favourite stand-out moments, but it had very little progression and, on the whole, didn't exactly add anything new. Another series of that (assuming it would have been another series of that; because you never know, Matt and Ash could have had more time to refine their thoughts whilst doing S2 and come back with MASSIVE AWESOMENESS! Also, having said that, they could conceivably have run that ending across an entire 8 episode stretch and made it much more palatable to me --- changing the game, but in an excellent way.) But to get back to the point; it would have really weakened the show.
So I think, from a storytelling perspective, it's neat that LoMUS gets to tell its story the way it's meant to be told. But I do understand the sorrow of the fans. It's really annoying when you fall in love with something and they cancel it or don't renew it for a new season (Pushing Daisies, The Middleman.)