We could use a good monster-of-the-week show, although this one will probably end up becoming arc-based just like Supernatural and just about everything else.
I've gone on record stating that I'm not inherently opposed to episodic tv--some of my favorite shows have been based purely on that format however over the last decade it has become abundantly clear that the current crop of writers in television really can't be as creative in coming up with fresh unpredictable episodic stories.
They inevitably fall back on old chestnuts that almost everyone in the audience has seen if not once multiple times and to better effect before. That's one of the main reasons I simply don't care for cop/legal/hospital dramas--there isn't anything new to offer up. Same holds true for sff shows like Fringe, Grimm, Haven, Enterprise or Supernatural when they do standalones--they are predictable, formulaic mediocre drivel nine times out of ten recycling something done better before.
So while I'm not opposed to episodic storytelling it has been my experience that writers in recent years tend to be more creative and think outside of the box when adopting arc based storytelling and when every episode focuses on the arc threads(i.e. The Vampire Diaries, Ringer, Revenge, Once Upon a Time, The Secret Circle--not coincidentally the best shows on tv right now)and not just every so often or just in the periphery like Fringe or Supernatural did--two shows I had watched at one time but dropped due to a total lack of disinterest in the material and its execution.