Here is yet another take on revised XP for my DF game. Maybe the last for a while.
The goal is the same - encourage risky behavior and more exploration even at the cost of dead characters.
XP House Rules Proposal III: Explore & Loot Equally
Base: 0 xp. Delvers without loot or exploration are worthless.
Loot - Loot is still central.
Sufficient Loot to cover your threshold ($200 for a starting guy): 3 xp
5x or more than that: 4 xp
Under threshold: 1 xp
1/5 to none: 0 xp
Exploration - Exploration is also important. "Interact with" means explore, map, fight, or otherwise deal with new areas in a positive and basically effective way. Running away, not touching anything, etc. doesn't count. Significant areas have some kind of monster, major feature, treasure, puzzle, or other element of note. Generally, hallways, doors, traps, random dungeon color, etc. doesn't count.
Interact with many (4+) new areas: 3 xp
Interact with at least one new area: 2 xp
Nothing new: 0 xp
Character Death - No effect on xp.
Roleplaying, Awesome Bonus, MVP - Unchanged.
In this approach, taking home sufficient loot, exploring a little = 5 xp. Taking home a LOT of loot is 4 xp, even if you didn't explore at all (making a straight-up "spend the session getting that treasure" a worthwhile delve, if you also count the money as worthwhile.) You can potentially get up to 7 xp with lots of exploration and great amounts of loot. And I get to give 0 xp for those sessions that consist of spending 1/2 of it messing around with a profitless dead end because no one can decide what to do and then 1/2 spent opening doors and running away from monsters.
Death has no effect outside of roleplaying and the usual consequences on hiring new NPCs when you come back with half the PCs dead and all the NPCs eaten by purple worms. High upside, high downside with this approach, but cost of achieving your goals isn't important.
I kind of like this one, too, if my players are more into "yes, make sure we explore!" instead of yesterday's "Consequences, shmansequences, as long as I'm rich" approach.