I know this has been considered with the inheritance rules (I think this is the first time I have seen rules in any RPG system that tackles the loss of a character) but it does not go far enough to make up for the loss of all those XP and AP gained so far.
I could go either way on this subject... If you have been playing for a few years, slowly building your skills with the rest of your party and then die. Rolling up a new character is fun (there are so many cool cultures to explore and play) but when joining the old fellowship, the new character will become a hinderance - low weapon skill, low courtesy.. imagine failing that vital encounter, messing it up for the rest of the group... or ending up observing in the game, taking no part as it makes sense for others to make the rolls as they are better skilled in your new skills, not to mention facing the thought of another few game years just to get back to your old level.
There is also the argument, as your character evolves and you become more attached, you are less likely to perform heroic acts for 'fear' of loosing it.
On the other hand, if you could 'port' all those XP & AP gained so far into a new character, so you could quickly boost yourself up to the 'level' of the party - you would become less attached to the chatacter or not care what actions you took or how reckless your actions were. If you died you could fall back to your last 'saved' point (like in a computer game) and continue without fear of consequences.
There are arguments for either side (clearly hot topic in our group recently) I just wanted to see how others handle this in their games... or has nobody died yet
