I am not a fan of the government deciding which contract I should and should not enter into. I believe that business owners and decision makers are smart enough to determine which contract is best for their business needs.
From the leasing company perspective, the average term of a mfp leases in most leasing companies entire portfolio range from 45-49 months. This means that you have a mix of lease terms and the longer terms are the majority of the leases being written.
From a user of mfp's on a daily basis (leasing/banking is very paper intensive), many of our machines work just fine even though they are older than 3 years. During my tenure at this company, our machines are kept from 3-7 years depending on the needs of the users.
From a dealership perspective - I have sat in on many training sessions and the industry experts have shown dealers that the most profitable term for the company (not the sales rep) is the 60 month lease.