Item loot could work but not with classic rule sets

[Kazi]

EQ pvp with item loot could be fun, but it would require some custom rules. What do you guys think about these rules:

1) No placeholders and increased drop rate for rare items.
2) Minimum equip level: if you don't meet it, you're FFA to all levels.
3) If you die, you have full loot rights to whoever killed you (up to 1 item, bagged or not) with No time limit - you can't camp it out.

EQ doesn't foster a good pvp + item loot atmosphere because of the rarity of certain crucial items. I know it's not classic, but if this fact were mitigated, fun could be had for all.