Preface: I disagree with having character resurrections. I believe that the system is just fine the way it is and that having character resurrections are going to benefit a niche group of people, as well as causing more problems than it'd solve in the first place. And that's not to mention kill any sort of compelling narratives surrounding high-risk situations. Now, keep in mind this is all my opinion, and you all are entitled to yours, and it may or may not change if the system is to be tweaked, but as it stands now, I believe it will not be beneficial. Now that I've prefaced with that, let's get into it!
Metagaming: This new system would have an extremely high potential for metagaming and abuse. Someone could avoid consequences ICly and OOCly by hiding behind such a system. I feel that those who would previously not give kill perms may, but not quite in a good way. They'd use the revival as a way to completely ignore any sort of potential roleplay striving out from misdeeds, instead opting to "just kill them, I can have them come back anyway." I feel that if this were to go into place, there would need to be strict measures in deciding who "gets" to have their character revived and who does not based upon time played (as to avoid throw-away characters and misuse), proof that the character died not of their own wishes/own fault (as to avoid people acting without fear of consequence), if it would even fit the character and world as a whole meaning there'd need to be a set number or cap similar to the one with silven and mages (as to not have Regalia completely full of these abominations and the likes, as it wouldn't quite make sense) and measures against impure usage of this (bringing back old characters and claiming they're new, or lying about how they died). To get back to the point of this point, I believe that this system would require a lot of "policing" and "babysitting"- due to its capability for misuse- that may not be enjoyable for either side, staff and player. Alongside this, I feel as if it lessens the impact of deaths in a way, leaving them as just another death.
Atmosphere: While this may not matter to others, it most certainly does to me. The atmosphere of a roleplay helps to drive my decision making and willingness to go down certain routes. I feel that if removing death- permanence, we're removing the "fun" that comes from risky situations. It makes a situation more meaningful to a player and can lead to a more positive experience in roleplay. I feel that if we put this system into place, we're dissolving that atmosphere and compelling twists and that come with trying to get out- or in some cases in- a certain situation. And, as for the whole "if they can't kill me, I can't kill them", this would likely have to be on a character to character basis. As quite honestly, I'd rather not have my nobles be brought back, as it doesn't suit them nor the scene they're in and I'm sure others feel the same. However, some may want to have their commoners available for ressurection and not their nobles, so how would we keep track of that?
Story: As I stated, there's a sort of "rush" (for lack of a better term) that can come with getting into trouble and causing chaos in character, and the consequences make for a compelling narrative both ICly and OOCly as whether we like to admit it or not, OOC rules can, and do, tend to seep into and drive our IC actions. Consequences and drive in-character development of morals, beliefs, and general outlooks. I'll give an example: My Altalar, Aaminah, upon seeing another person die in front of her very eyes had a sort of awakening. She realized the true consequences of her retorts, insults, and guard disobeying. She feels as if in order to save her own hide and avoid death she must try to make amends with the guards. I, as a player, see this as interesting and fun. However, if there was an option to revive her, she and I would likely give no care towards such a narrative. While this does seem rather specific, I'm trying to provide some context and meat to my bones of an opinion.