Absolutely loved this show. Hated that it was ruined by the writer's strike. I believe the first and last seasons were the absolute best. They were simple and straight forward. I've heard a lot of people didn't like the last season for some reason but I enjoyed it. It didn't have any of the things that tore the show apart. When the show started getting into alternate timelines and fixing the past etc that's when it jumped the shark.
I had the same issues with comic books that did similar things. If you miss a couple episodes/issues you have no idea what's going on because they've jumped like three different timelines in between. I'm not a very big fan of reboots. I think many things are rebooting way too often. But I think Heroes would be great with a reboot. The initial concept they had was awesome and lots of folks liked it. They just suffered because of the writers.
Sidenote, if you like Heroes and like British shows you should check out Misfits. It's basically the same concept, normal people get special abilities. But the twist is that it centers around a group of kids on community service. Great show with lots of fun moments.