If you enjoyed the first two seasons, season 3 will be right up your alley.
Following on from the second season, Michael is still dating HIV+ Ben, Justin and Ethan are still together, and though Brian denies he has feelings for Justin, that seems to be the only thing he thinks about. Unexpected relationships blossom, the arrival of a teenage hustler stirs things up, and a new client of Brian's threatens the freedom of everyone on Liberty Avenue. It's definitely Queer as Folk - complete with the graphic sex scenes and frank depictions of life - but a little bit darker.
This season is shorter than the previous 2, coming in at only 14 episodes. In these episodes issues are dealt with quicker, though at times it seems like they're dealt with too quickly - the over arching theme takes a long time to come to a conclusion, as it would in real life, but some things seem a bit too cut and paste. Regardless of that fact, the season is still excellent and some great issues are explored.
The only real downside about this release is that having loved it and finished it in days, and there's no set date for seasons 4 and 5. Having contacted WarnerBros they have said that there are plans to release the last 2 seasons, however dates have not been decided. Hopefully it won't take too long because the nature of Queer as Folk dictates it should be watched in close succession, and having to wait for another year for another box set would drain on the climax achieved in the season finale.