The truth is, all/any sitcom could be translated into another culture very successfully. The key factor is who does the translating. The Office: An American Workplace is so fantastic because it has a brilliant team of writers, producers and actors. The only thing stopping Spaced from being any good would have been the team behind it - or interfering network producers.
this mist-trust of American television is a bit provincial, and naive given the fact that the most successful UK figure in sitcom over the last few years (Gervais) has made it clear that The Office was created with a very stong American influence.