Maybe it's just me, but I actually love the idea Mickey proposed for an Arena world.. that's the wonderful thing about the engine he's developed for us here, is that with a little creativity an entirely new style of play can be created from simple INI manipulation.
Although, I already forsee one problem with the idea, perhaps it could be cirpigvented.. but for instance, I unfortunately have this life thing to deal with during the day, and my life doesn't permit me to play RPGWO at work..
So anyone who say, doesn't do anything but live in their parents basement guzzling mountain dew and trying earnestly to beat the previous day's calorie record is going to have an obvious edge in terms of levelling up, and in a world where a majority of the exp comes from non-stop PKs, after twenty four hours they would pretty much run wolf unopposed. Perhaps monsters that only pursued the highest level player on the server. With superior firepower.