Okay, I don't mean to offend anyone, and I know personal choices about who is attractive varies from person to person.... but I don't think TL is handsome. His face is oddly shaped and the nose is so broad--sorry--it's almost oink-oink like. I also don't think his acting is all that good.
However, I think the Twilight franchise would be ill advised to replace him with someone else because there are so many people who think he is just perfect for the role. He's given his all to the two movies he's been in, and I think he deserves to finish the series as Jacob.