I wouldnt call it satisfying but as good as you could do it with the various variations of werewolf and vampire it got tiring after a while.

No not in the least

I wouldn't give it a satisfying conclusion unless the war is officially over.

Pretty sure the war is not over

How do you know that?

Well, the Vampires and the Lycans didn't start with one big coordinated dance how they are all friends now. So the war is still on.

If it's possible, I think that they should probably make at least 2 more movies: one to set up the events for the Final Battle; and another film to conclude the series. The titles could be: Underworld: Fall of the Vampires; and Underworld: The Final Battle. What do you think?

With no Michael, no point

Well, maybe the creators can find a way to bring Michael back, either as a ghost; or as a hallucination of Selene's designed to give her strength and encouragement. Maybe.

I won't be pleased if they do either. Either he comes back alive or I don't want to see a continuation of the films. He was too big a part of the series.