I think this movie definitely deserved to be 3+ hours, the story was worth it. The fact that Nolan was actually able to whittle it down to 2:45 and make it work is a testament to his discipline and efficiency as a storyteller. If anything, some fans were just left wanting more...but that could actually be taken as a compliment.
I'd say most people (most fans anyway not sure about critics) would've forgiven him if he got a little self-indulgent and let it go over 3 hours. I certainly would've. There's that pesky IMAX reel issue though.
Maybe one day we'll see some more stuff even if it's not integrated back into the cut. That reminds me, Ultimate Collector's edition this month! At the very least, we should have a new retrospective doc and Nolan/Donner interview up on Youtube soon, for those of us who will be resisting the double dip.