I'd be horrified if there isn't both a death penalty and meaningful travel.
To throw out what I posted once in another thread here a few months ago my idea of a death penalty (if I admit we can't do straight EQ only forced naked corpse runs with xps penalty even if I want that ) is something like this,
A bit of a choice between EQ and VG style penalty. You have the naked corpse run to get back your stuff , if you do this , zero equip damage , and zero xps loss.
Second option would be a solo way of summoning your corpse at some stone whatever , this costs a decent amount of coin , (make it scale according to level if needed ) , plus noticeable xps loss.
Third , have the local necro class (or pick whatever ) , and give them ability to summon your corpse , don't make it cost anything , and you get a medium xps loss.This makes it cheaper , donate to the necro (class interaction ) and a better outcome xps wise than just paying at the stone.
But the naked corpse run , that likely is dangerous , gets you everything back. Just seems a way to encourage the group to fight back down to get their stuff old school wise , the pure solo anti-social (or just in a rush player that night ) the pay coin and take the xps hit has their way , or you could talk to that black shrouded necro and tip them to get your stuff and half your xps back.
