I'm a trader who now dabbles in Open, and look forward to playing only Open as soon as some fixes are placed for exploits/cheats. I really really look forward to this

From my point of view, we need Pirates. Because Bounty Hunters need Pirates and Traders (in Open) like the thrill
Bottom line, Pirates need a reasonable chance to win, in fact, they should normally "win" -
I mean their ship is designed to win battles. Mine is designed to move stuff. My rules cuz I like em 
1. Killing a clean player must be massively penalized. Massively. All other rules and all other ideas will fail unless this is done first. It's a deal-breaker. It should take the pirate 20 game hours to recoup 1 clean player murder. Robbery shouldn't be penalized hardly at all.
2.
All FSD should have a 2 minute cool-down after pvp interdiction (forget about this for NPC interdiction or it may surpass super-cruise as the worst thing in the game.)
3.
If a pirate catches the trader via interdiction mini-game, then the pirate should be able to disable the ship if s/he wins the fight and take cargo - if the trader didn't just offer it.
Remember, killing the clean trader should be an absolute disaster for the pirate so s/he only has the incentive to disable the ship without killing the trader and take that glorious booty. All modules should be reparable so the trader can leave after repair, and that trader better have a repair unit!
4.
If the trader wins the fight, or can survive long enough to escape, then the trader keeps that glorious booty 
The way it is now,
pirates are right in saying they can't make squat and it really is much too easy to escape a pirate. They are no threat unless you're sleeping.
However,
traders are right in saying if this changes they simply have too much to lose. If I lost my ship, with cargo, it's a 15 million credit hit. One loss. That's 3 hours of game play to recoup. For losing one time. One time out of 1,000 is still 3 hours simply wasted. No way I'd play in Open with that. A pirate loses a much cheaper ship and much less time to recoup.
TLDR: Pirates need to reasonably expect to win most fights without murder; traders need to not lose hours of gameplay for every loss