Thranduil, I don't think it's so much that we don't want more, it's just that some of us know that there is a reason for a cutting room, and why it is necessary that some footage remain on the floor.
Much of what gets cut out is simply stuff that isn't useable. Slightly different takes on the same scene, minor dialogue alterations, bloopers, and minor scene extensions that don't add anything, are but a few of the reasons why this stuff doesn't make it to the final cut. When you add all that up, you have a few hours worth of extra material, yes, but it isn't really stuff that you want the audience to see, and with good reason. So, when you hear that Jackson has 'x' hours worth of additional footage, don't automatically assume that it would all add anything to the movies we already have. Granted that there are some extra things that never saw the light of day, even in the EEs, but as Olorin pointed out, that's probably also a good thing. I, for one, don't want to see Gandalf chewing candy in order to quit smoking.
Having said that, I know there is some footage I would like to see put back in someday. This has been discussed before in another thread, but two things I would like to see restored (and know for a fact they were filmed) are the extended Last Alliance fight scenes, and the flight of the fellowship from Moria. The former includes more battle scenes, as well as additional footage and even some dialogue with Gil-galad (played by Mark Ferguson.) In the final cut, the elven king got severely short-changed, as did Elendil. As for the latter, as in the books, the orcs of Moria follow the group as it flees Moria into Lorien. The fellowship fights the orcs, who are in turn ambushed by elves. Including this part would be problematic however, as it would radically alter the current version and how Haldir comes upon the group. Note that this scene was already altered once from the theatrical to the extended version.
As for the stuff that made purists like myself become ill when they heard of it, I'd rather that stuff be destroyed than ever have it see the light of day. I'm talking about Arwen at Helm's Deep, and Aragorn fighting Sauron in single combat before the Black Gate. Some offenses to Tolkien are too blasphemous to be viewed and best left under the category of "What where they thinking?!?"
