As of the question at hand, I think the UK should leave the EU. Britain was never really committed to the cause of European integration, so a close partnership based on a mutually beneficial deal would be best for both sides, as neither side wants to cut natural ties betwen the isles and the continent.
If at some point in the future the UK wants to rejoin, we'd just go through the normal process of accession. Nullifying the referendum or simply holding another one wouldn't benefit anybody.
You have heard the likes of Mark Francois, right?