In an item loot system? I'd be happy as fuck to be a 59 rogue with a serpent tooth (pre epic) or vox spear.
You don't think people would camp out in ninja places to try to log in during a pull and gank tanks for dragon haste and shit? Give people something to do rather than kill them for 3% of their xp and then get corpse camped themselves? Heh.
Risk vs reward = fun
I think of people learned to bag their gear and the correct resist system was in place, you'd be fine with it.
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