Sure, but it would be easy to tie elemental training into the obvious 'new ground' (greater exploration of the Spirit world), so I don't see that as a particularly high barrier. Indeed, I don't see any other way for them to play it. The barrier to Korra's other Bending wouldn't be anything like Aang's was; she has plenty of expertise, but her spiritual connection to the elements is blocked off.
Then Nickelodeon are idiots. How long did Kim Possible run again?
You're asking someone on the Internet to choose between being more like Firefly and being less like Firefly. Really, what answer do you expect to get?
But in all seriousness, LoK wasn't a story. It was a storyboard that someone decided to animate without fleshing it out because they "didn't have time" to do it properly. So yes, I prefer an unfinished story to an outline.