and ofcourse in 4 months if you switch to 4th edition you wont have to worry about that
It all comes down to preference really. If you like a high-magic gameworld where resurrections are common, then there is very little penalty for dying and the spells aren't disruptive at all. If, however, you think resurrection is cheesy, then you should defenitely stay clear of those spells because a natural 1 on a d20 is always a failure by the rules, and everyone rolls them no matter how good their saves.
There is IMO very little middle-ground between these 2 options because you either allow the players to be raised or not. Making it too hard to raise people from the dead and it'll be easier and faster for the players to make new characters, and that defeats the purpose.
Heck, even in MMORPGs death is an oft-discussed topic, just what penalty is too high, and what is too low.
Finding the "sweet spot" is the name of the game here. You can certainly keep the save-or-die in the game, but then you have to figure out a way for your players to have fun dying and coming back.
After all, this is a game, and you are meant to have fun, if you and your friends don't have fun it defeats the purpose of the game.
Have fun!