Casuals will whine over the hardcore players everywhere, i saw it in WoW, i see it here now...
...simply put: No.
And why? I started playing like 2 weeks before the big patch that introduced upkeep, i just farmed for my gothic plate i get to wear time from time, mostly with friends. I do not think having the opportunity to play without xp/gold/upkeep is too tempting, i mean: why would i bother when i can actually do the same wreckage on "normal" server and then play in leather for few rounds to make up for the gold loss (which is not that big deal, in mail hauber, winged helm, mail over leather greaves and red wisby gauntlets, with german sword and usualy barmace, i am actually EARNING money).
I feel you, i mean, i know why you want this implemented, yet i would not say it would help anything.
edit: sorry, i just have to, a guy with nick LordRichrich asking to do something so he could save money, lol