Just an update here since I couldn't quickly find another thread which discussed the issue:
The no-player-corpse code is currently in the testing phases. The "dead state" will last for (level / 50) minutes, so that new players have almost no downtime, while the earliest PK battles (possible at level 50) are at least 1 minute of downtime, and end-game deaths last 3 minutes.
This has become the top priority code change, since it fixes a known crash bug (actually, the only known bug which I can replicate on-demand without immortal commands). This change also removes the pesky "players don't die until -11 hp" code, which actually meant something when top level players had 100 hp (~17 years ago). The "dying but not dead" states of health (such as 'incapacitated' and 'mortally wounded') no longer exist for players.
This change also fixes numerous other hacks, which work 99.9% of the time, but still had loopholes (such as iceshield, fireshield, and shockshield triple killing someone, or dead mobs using a death trigger to damage other mobs that are already dead and creating extra corpses).
A final huzzah will be that we will no longer require corpse saving for players, as there will be no player corpses. No more corpse littering.