I like your idea Kieth. The death loading window is a total buzz kill. Even though the loading time could be perceived as a death penalty, it would be a lame death penalty. LOL
However the self resurrection skill seems a bit unrealistic or anti-roll play to me. Why not have something we would have to accomplish if we want to avoid the resurrect at home loading screen penalty.
Just an idea here; Give us the option of the regular 30 second res at home, and a second option like finding a spirit to resurrect us. This could be something as easy as finding a body of water, rivers lake where spirits could reside. This way you most likely won't be resurrecting in the exact place you died, but you won't have to go very far to resurrect. And this gives any players time to move on preventing retaliatory action by the dead player.
There wouldn't have to be an actual NPC spirit though that would be more visually convincing. It could simply be a command or maybe you need a certain herb or something as a sacrifice, drop it in the water and you will get resurrected. It could even be done so you have to forage for some "Death Herb" while you are dead before you can get resurrected.
Anyway, good call I agree I think this does need some change.