One of the thing I noticed was just by jumping out of the system I was wanted in, all sins were forgiven. All that was needed was a bit if care with making sure bounty hunters shot first.Here are more issues.
Got a ten billion credit bounty on your Cutter? No problem. Put all the modules in storage. Sell the Cutter and take the moderate hit on the price. Buy new Cutter. Clean modules. Reinstall modules.
10 billion bounty what? And this has been possible since the current C and P came out.
But let's say you don't even care about the bounty like one of the people in my squadron. Multiple billion credit bounties across human space on his Corvette. But hey, he's careful about it and it's not like there's a lot of ways to make him pay unless you're very dedicated in hunting him down. And even if you did, he'd lose the ship, congratulate you, and then just whip out the Cutter to begin again.
And never mind that he can just menu log and switch to Solo or Private Group if he fancied it. He doesn't, but a lot of criminal types do.
Rabbit hole goes pretty deep when it comes to balancing Elite. See what I mean?
EDIT: Suggest nerfing mining payouts in order to punish "griefers and gankers" in Dangerous Discussion. See how quickly you get lumped in with us.
I remember that the original idea was to have faction bounties which eventually matured into superpower bounties at a certain point. Shame a bug forced them to back off on that.