Merlin (I know it wasn't cancelled but it ended, and they could have taken it much further if the producers and cast had wanted to.)
Doctor Who (1989, it seemed everything clicked into gear in that final series, the stories were of high quality, McCoy was turning into an excellent Doctor, and the Beeb cancelled it for seven years.)
Doctor Who (1996 - Paul McGann was deserving of at least a full series playing the Timelord.)
And as others have said - Angel and Firefly.
I would have loved more runs of Alias, Rome, Blakes-7, She Spies, Dark Angel and Birds of Prey.
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