Therefore I think that this table, or my program, whichever you choose to use, is about the best solution. Now if they wanted to incorporate this as part of a conditional Iron Man mode, that would be fine, but dead is dead just wouldn't work; most people would not play in that mode. And if they change it where that was the only mode there was, they would lose most of their players.
Don't underestimate Iron Man fanatics
If there was an Iron Man mode, I suspect it would be like a separate startup setting (ie Open, Iron Man, Group, Solo), and once you died would kick you back to Open (if you wanted to go back into Iron Man you'd have to wipe your save).
Of course this format would turn Iron Man into Elite: Highlander in my opinion, where everyone would be striving to be the last one there. Hell, they could make that into a separate Elite competition