What I care about is the ability to sanction such players. Be it place you in a jail system run by players, where you have to pay me back 1.5x the amount you stole, or a month (game time) of hard labour per person you are convicted of killing. Or more easier ways to inflict a punishment on you. I don't care if that means your game sucks, you did something that you know is wrong, I don't care if its in a game or not; I paid for this game, why should I suffer if you choose to play this style of character. You choose the choices to do whatever, live with it.
At the end of the day, my 60 dollars for an initial fee and an 25 dollar on-going fee is just as good as yours. (Dollars round-up to closet 5 in local currency.)
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Why would you care about getting some of your money or xp back...your dead. In this lawless world you have no rights yet. I'm sure that some of our settler brothers and sisters for times past were raped and pillaged and no one cared. Casue if there is no witness there is no crime, dead men tell no tells I think it goes. So when I kill your toon and no one is around to see it, why should I have penalty? there was no crime other than you crying in local or general chat about how you were just owned like cattle lol.
On the bounty system, someone said that it wouldn't work because they would just have a friend collect on it. Why not have the bounty system by tribe or alignment maybe. the safest being the one where you use your tribe to collect on it.