I did the same. I used to listen Last.fm a lot, and I discovered several artists that I hadn't heard of before, and bought quite a few albums as a result.
I had a monthly subscription, and I thought it was well worth the money. I wasn't that interested in the big name bands, what was interesting were the less well known artists from their huge database of music from around the world. But like you, I cancelled my subscription when they cut the "my loved tracks".
It was nice while it lasted, but .. the world moves on.