Personally, I thought wiping out the time lords was a mistake.
Evidently the Who
producers agree with you, Chris, since the three Doctors did a little rewriting of history and Gallifrey was "frozen in one moment of time" instead of being wiped out. I'm glad of that, because I like the idea of the Doctor belonging to a race of travelers in time and space instead of being the only one (which makes him kind of a freak). Clara accused the Doctor of having no purpose, just flying around having adventures. Well, now he has a purpose. Find Gallifrey!