I'd actually like to see some exp loss upon death but without the ability to delevel. Perhaps that would be just a little too cruel, especially for those at the rank cap. However if you're planning to die, you can always switch to an unimportant low rank job.
If exp loss were brought in, weakness should be done away with. Mostly since I can imagine horrible situations during an NM battle where someone accidentally dies within NM range, receives a Raise but gets hit with another attack while trying to flee to safety under the effect of weakness. More exp lost. Ouch.
