If you want a permadeath solution, just axe your character the next time you die. Form a pact with your tight knit community of expert players to delete their active characters on death.

What could be more exhilarating than destroying your own character after two years of work because of an arbitrary game mechanic you invented? If they chicken out, well, you'll know they weren't really committed to the idea in the first place.

If it's recognition you're worried about, Youtube the sacrifice. Run a website or make a thread on the official forums to keep tabs on who's the ballsiest. I'd say that's more of a thrill than letting SE do the work for you, unless you're some kind of casual.

You're... not a casual, are you?