I for one always loved the 1 item loot but my play style is different and I understand that doesn't work for a lot of people. I thought it was cool just going for the no drop items and then wearing jewelry at your own risk. Fighting for a possible item was just more fun then fighting for an exp spot, but being able to kill people at all in EQ is still fun.
If you wanted to keep it like it is with coin and take out the exp loss I would be okay with giving someone with a pvp death a bad penalty that couldn't be dispelled for 20 minutes or so instead of losing exp. Either way the pvp death needs to take some time for the person who died, whether it is through having to get more exp or being worthless for the next 20 minutes. If you died in PvP maybe you could go work on something else like buy/selling, tradeskills, traveling to new pvp spot since the one you were at was taken from you, etc. while the penalty ran out.
I actually like the exp loss though, it allows you to dig yourself a hole if the cause is worth it. If you are fighting over something important to you it is nice being able to give up a half hour - hour of leveling for a few deaths.
For those who are unhappy with the system you are the minority. It isn't going to be changed and you just need to go with the flow because the server kicks ass.
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