You know...I just had an idea. Why not give players a small bonus from exp worthy mobs that compiles with every mob killed, when the player dies it resets back to zero. You could do this combination with gear degradation and weaknesses. Or not, whatever. I feel its more productive to reward someone for not dying. Raise would not effect the bonus reset. If you died it would always go back to zero. The exp bonus would cap at a certain percentage but at the same it wouldn't ever degrade either as long as you didnt die.
Think exp chain that stays with you, but at a much slower rate of accumulation.