Diablo 2 did try to remove that when you faced Diablo himself. His health regenerated quickly when he was idle so by the time you got back to him, he was at full health again. This forced you to properly complete the epic 10 minute battle without dying. Mind you, there was a way around that...
I agree that for most RPGs, dead is dead. Action games should be the ones that have respawning.
Sorry Handefood, just plain wrong. End-act bosses don't regenerate health. You could therefore die and come back to slowly kill them off. Maybe this was an effect of a later patch but I always remember it being like that.
Diablo-clone in patch 1.10 was the only boss to regenerate health. He does it like a b*stard too! <img src="/ubbthreads/images/graemlins/eek.gif" alt="" />
Exp loss is very tough in D2 upon death, especially at higher lvls. I would prefer reloading like in D1 I think.
There is always hardcore play however.... <img src="/ubbthreads/images/graemlins/eek.gif" alt="" />