After the Victorian era ended was the country excited, in anticipation for the new King or was there dread?

No, not at all, there was no excitement at all. At first the people of the U.K were very sceptical about whether the new King would take his responsibilities, as head of state, seriously. He was considered to be a philanderer and a wastrel, who did not take his duties seriously, very true when he was the Prince of Wales but, he changed when he became King and was soon to be respected and admired for his dedication to duty.