"Defeat in Guild Wars 2 is intended to be an experience, not a punishment. Let's face it: dying never feels great, even without a death penalty. As weird as it might sound, we decided to look into what would make dying a more enjoyable and memorable play experience."
Haha, they talk like they came up with this idea themselves. Still kinda cool though for an MMO. Glad they are doing away with the boring tank/DPS/healer system too. This game sounds really good.