The idea has merit, but the crunch lacketh . . .
This is a nice idea, but as it is presented I would not take it.
Hmm, how about something like the following:
You go through some religious ritual, sacrificing perhaps 100xp * your current level at a location (very) sacred to your deity. Later, should you die, you awaken the morning of the next day to find yourself a level lower and in the place where you performed the ritual, irregardless of the distance or even the plane upon which you died (so long as your deity can access that plane - if you die on the turf of an enemy deity, too bad).
The feat would be called something like: Sacred Revenance, and it would open the option to perform and gain the benefit of the prior stated ritual. The body in which you awake is not the flesh you formerly wore, so all gear is gone (although a nice quest now can exist to go retrieve it).
Hmm, maybe you should return at the level at which you did the ritual - raising the issue of re-performing the ritual each time a level is gained or risking returning a (much) lower level than before.
Each time the character was restored in this manner, they would owe their deity a quest worthy of their (current) level or slightly harder. Only with the permission of their deity (as determined by a divination from a high priest, etc or - at higher levels - by the deity itself) could this quest be put aside (while the current party quest / mission is accomplished). Until this quest is completed the ritual cannot be performed again (thus preventing another auto-raising should they die again).
Anyway, a feat that allowed you to return (for a significant price) that could be used more than once is a worthy feat in my view. The above idea is a bit too strong, perhaps, although some might argue that considering the 10% of xp for the next level per each level gained cost, level loss upon raising, and requirement of a quest for the feat to ever work again balance it out.
Hmm, it should likely have another feat as a pre-req, something that could not be taken at first level except perhaps by clerics. I don't want to necessitate a divine feat, as that would limit the class to divine casters, but some type of feat showing a religious devotion would work well, I think.
