Expedition: general discussions.

Well, if

this time the game will be somewhat focused on character progression (just like skills, stats can be upgraded using experience points)

then in principle, one can survive a weak character at the start and then level up. Although previously (in my experience), such a system didn't prove itself very well; starting as minimally leveled is more interesting...
And yes, death becomes scarier. You accumulate and accumulate experience points, and then lose it all. I think that I, for example, would be much more cautious in such a system. Is this a plus or a minus? Well, judge for yourselves; just out of curiosity last time I took Osama Iwamoto to the arena, for instance, knowing beforehand that I'd surely die somewhere. And in fact, it turned out that I really had no chance of any other outcome. Would I have done that knowing that my next character would be completely useless, with zero experience, speaking roughly? ) Unlikely.
Overall, both options are possible, provided there is proper implementation. Well, that's what I think. After all, the implementation is the most important thing here.