I think player looting is a good idea but not for mounted equipment, that is too extreme. It does seem to work OK on the other servers I've seen. Maybe a vote? I'll start one off if you like.
Starting money, well I think it's fine as it is, but 3K max at current prices. I think the starting money should be enough to fully equip the Starflier with whatever is available at Manhattan, or buy the next ship after one or two missions or a trade run.
Role-played characters:
daedalus - Liberty Navy
bandersnatch - Ruthless criminal possessed by a (huge) alien
Shredder - Small-time Kusari pirate, looking to join the Blood Dragons
"Bounty Hunters. We don't need that scum." - Admiral Piett