While I do think that Russell and Jonathan did go too far, the whole incident has been completely blown out of proportion. If you heard the actual radio show and know the entire context of the 'incident', you would realise that it is nowhere near as bad as the media have made it sound. There were only 2 complaints on the day it was broadcast, and a further 3 in the whole week afterwards! 30,000 people complained based only upon the exaggerated media reports of it.
I am a big fan of Russell Brand, and have listened to the podcast of his radio show pretty much every week for over two years. I will greatly miss it, and I can only hope that another company, perhaps Channel 4 can give him another radio show/podcast. It wasn't the number 1 podcast on iTunes for nothing.