Genuine laughter tracks are fine, in fact much humour can be derived simply from recognizing a quirky, individual laugh-giver in a show if it resurfaces often enough.
I can't stand the American-styled 'Canned Laughter', though: it's far too artificial and soulless, even in the context of US TV.
I seem to remember seeing a transmission of Ripping Yarns without a laughter track, and it definitely lost something (and was noticably 'cold'): when it was repeated with newly acquired laughter track, it worked much better.