Completed quotations allowed to be marked as LOST

Current software allows orders and quotations to be deleted and immediately removed from the system. However, it is also possible to keep a record of cancelled order lines - but not cancelled whole orders? Our customer wants the ability to complete a quote yet mark it as Lost and retain the details of what was quoted. As a work-around we have suggested (a) mark the quote reference as LOST, then (b) convert the quote into a sales order, then (c) cancel the order. What do other users think?