While you're waiting for that: in twilight forest (which is in mindcrack) there's an item that allows you to keep part of your inventory on death (the charm of keeping). It allows you to keep your armor and whatever item is active on your hotbar. Four can be crafted to an improved version that saves your entire hotbar, and four of those can be crafted to a version that saves your entire inventory.
I still like the idea of decorative tombstones, though.
Indeed, especially if they list the cause of death, when you died, and whatnot. It was one of the more amusing features of Terraria that MineCraft has yet to incorporate.