I loved exp loss in the EQ. Because I wanted to gain levels, but it was never my goal to be level capped, exp loss was just the right penalty to make me rethink what happened, why I died, and work to avoid it in the future. Many people I played with who did have the goal of level capping, would regale stories of how they died several times a play session and how they never went anywhere without a cleric and the best possible resurrection to minimize loss. It made me feel bad when I played nearly as much as them but their per session death counts matched my per week or per month death counts.

Sadly, with the loss of exp loss, too many people are now encouraged to charge blindly into fights, which might be a tad more thrilling, but they've probably tripled their per session death counts... and they kill me too, which since I don't want to die make the game less fun for me. My goal is to die as little as possible... wimpy death penalties encourage people to play in a way that impedes my goal.