Let us compile a list of D3 annoyances.

[MongoJerry]

In Diablo III, you can justify Hardcore as a separate mode given so much is shared between characters, it does feel almost like `cheating' if your regular characters inadvertently give your hardcore ones a big leg-up.

It's only an issue for the person with little self control, and who harbors self-guilt. When I "cheat" at playing solitaire, I'm not deceiving anyone -- I know what I did, and if winning is THAT important, then there is my own special diabolic and personal enjoyment. Ladders would be different. I'm not sure if you can be so disciplined (e.g. even using the blacksmith who is already trained up to master level by prior character investments) without seriously handicapping yourself versus other hard core players.

You're forgetting the multiplayer aspect of the game(s). When I play hardcore, I want to play it with other people also playing hardcore who are helping each other and covering each others' backs. I don't want to mix with people who are playing glass cannons who think it's a perfectly acceptable tactic to die and resurrect over and over to defeat an encounter. A separate hardcore mode provides a way for a community of such players to easily find and play with one another. It's quite enjoyable for me.