I follow the core rules. Doesn't anyone do that anymore?
In low levels, raise dead is just too expensive to be an option, so death matters. At higher levels, death means losing a level which hurts very much - I've had players prefer not to be raised, instead drawing up a new character. (At very high levels death doesn't even lower your level.) I don't think this "diminishing" of death is a problem, it isn't in my game. There are still plenty of ways to truly die for me to scare the PCs with if I want to (barghests are a favorite), there is still the looming threat of a TPK, and so on. The players have by this point invested a lot in their characters, and I don't think it's a stretch to let them come back from the dead - if they want to, and the rest of the party can arrange it (finding a high-level cleric, bringing him the body in time, paying the money...). [There are plenty of Churches out there that would be willing to help the PCs out - old allies, members from the party cleric's church, deities that care more about the money and favors the PCs will owe them, and so on; so finding a high-level willing cleric isn't generally a problem.]
My next campaign will be a low-magic one. No resurrections, period. But I'll also have no obligatory character deaths, period. Instead, I'll use something like the following rule:
Deathbed Conversion: If you want to, you can refuse to die. You're instead only unconscious and severely wounded, and will recover to a stabilized state at fully-negative hit points [-10] after a few hours. Work with the DM to decide what effects dying had had one you, however, based on the manner of your death. Here are some guidelines:
* Death from bleeding (failing to stabilize) will probably not leave a physical mark, but may scar you emotionally.
* Death from some attack that directly takes you to death [-11 to -19 hp] will lead to scarring and physical marks. If the fireball sends you to -15 hp, for example, you'll probably suffer at least some permanent burn marks.
* If the attack lowered your hp far below the minimum, to -20 hp or less, a disability might be in order (perhaps you lost an arm, or an eye, or maybe the wounds lower your Con).
* In some cases, death may be unavoidable. I for one can't think of a manner that someone will survive being quartered, for example.