What I have been able to scrape together is that the debt applies to both experience and talent points. I have also seen reference to a kind of corpse run which reduces some of your death penalty.
Do the penalties for multiple deaths stack up? How severe is the penalty and how long does it typically take to work off in game? Can you actually lose levels and skills or does the debt simply prevent you form advancing further? How does the corpse run work and what happens if you die in an instance? How do players treat the death penalty? Does it make for very conservative play where people are afraid to risk dying?
Having an experience point death would appear to shift Runes of magic towards the hard core end of the MMO spectrum. I am reminded of Everquest old timer's tales of their dreaded corpse runs.One thing is different however. Browsing the item shop I came across a potion which removes death penalty. It costs about €1 per gulp. If that does what I think it does then it introduces a very interesting dynamic into the game. Dying will cost you real money!