In the first game we played, we decided to use the inheritance rule described in the book since we were all beginners and just learning, whereby if your character dies all objects and followers are passed to your late character's successor (of course, this doesn't apply to trophies or accumulated strength and craft tokens.) However, with this rule in place, there was no incentive for PvP combat since killing another character gains you nothing, (except for the final exciting three-way showdown at the Crown of Command, of course.)
My only reluctance to abandon inheritance, though, is if your character is killed, your new character has to begin again as a newbie and compete against experienced bad-ass characters. Nothing you have achieved in your previous incarnation counts for anything. While you are once more building up your character, the other characters are already making their run at the Crown, so you have no chance of winning. A game you have no chance of winning is not really that fun.
I was wondering if someone had developed a suitable house-rule compromise between complete inheritance of followers and objects, or complete looting by the victor of a corpse. Does anyone use an in-between rule, or does everyone either follow inheritance or looter's rights?