I dont think it would be the end of the game. And obviously it wouldnt decay in a night of raiding as Terabethia seems to suggest. As is evident, Im not suggesting to keep the 10 charges equipment have now. Maybe 150 or 200 charges could be a fair number for a fabled, maybe more. That would have to be studied.
Death must have a sting for everyone. Right now, fabled equipped players (mainly all-time raiders) are the ones facing the harshest penalty. Somehow I dont think its fair keeping just a monetary penalty. And I dont think it would be the end of the game. If the charges system is well thought out, not every piece of equipment would eventually break, as upgrades with expansions could be available and people would merely be more careful about dying. In the end, its all this is about.
My proposal is not that terrible.
Poetelia Roseknight
Paladin of Qeynos