Death system

Death:
Currently the guys behind Diablo 3 death system have stated that there will not be penalty loss, but there will be some kind of penalty in Diablo 3.

When a character dies, will it lose gold and experience like in Diablo 2?
Jay Wilson: We have not actually decided on the final death mechanic. I can guarantee that you will not lose experience. We are not urging to big penaltys for death. But we want enough of a penalty to be there, so that death has meaning! Like to lose a little bit time, some kind of decrement… We do not currently have a durability, but some kind of … a gold cost is actually not so bad. And having the player to waste some time, that is certainly an element. Generally we kind of rely on the effect that players do not want to die. You know, you just do not want to. So there is no real reason to add a further “ding” to them for something happening that was already unfavorable to them. But we have not got our final mechanics on that, yet.