If xp is 500%, I'll seriously consider rerolling after the first painful death (5+ hrs surviving). If it's 2-300%, I won't even consider it... it'll be a one-shot deal and after the first "real" death I'll be done. I imagine this will be true of many.
On corpse rotting: lvl based, imo. if corpse is like 40+, I'd say turn off corpse rotting entirely. Someone could die either in a dungeon or to guards in some obscure location and someone else can stumble on the corpse 2 weeks later and it'd still be relevant. it's not like lvl 40s can generate a lot of corpses...
on lvl 1 immunity, it's a tough call. griefing will suck on either side of the coin. Maybe a timer on pre-lvl6 immunity, like 30m? It'd help prevent muling and crafting nonsense, amongst other things.
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