I'm really happy to see the HoZ back in the game though it's lacking in its current state. I think of the HoZ as a luxury item because it makes for smooth leveling and it allows you to clear out mindless dungeons at a quick rate. It isn't necessary but it makes life a lot easier. I would really like it to work like the HoZ of old but it will definitely need some changes. The old helmet was extremely overpowered because it had huge gains with very little risk. This led to abuse and that is something that I think most are concerned about.
The risk and reward needs to be adjusted as people will be less likely to abuse it when it comes with sufficient risk. Here are some ideas:
Insurance plays a huge role here. The insurance value of a HoZ needs to be high enough to make people think twice before using it.. I'm not sure where I would put the starting number but I'm thinking about 100k. As in, when you die, you drop 100k for the HoZ value alone. This will allow you to farm easy content to your hearts desire but it will make you think twice before jumping into risky situations. This number will scale with the economy. Remember that this is looking at the HoZ as a luxury item. It isn't for everyone. It's for the people that have been there and done that. It speeds it up the second, third, and forth time around. This value will have to scale with the economy. Again, 100k is just a feel out number. Even though game isn't two weeks out, I believe it could easily be double or triple that. Edit: After thinking about it more, 100k is way too low. Should be much higher.
The second component would be a cost per round similar to something like the old magic mace or wizards casting spells. Again, this is not going to be a huge number but it is something that will help prevent abuse (for example, killing many low level mobs for grinding bounties. Click/dead. Click/dead). 20 mana/round? I mean, 20 mana is nothing. It could easily be double or triple that.
These are just some ideas to keep the potential financial abuse in check.