I would recommend standard WBL, refrain from nonsensical interpretations of the rules (death not affecting one for example), 25pt buy, and some way to control your consumable expenditure - at least try and break even with the expected treasure of the challenges, or something.
Points will be deducted for death, getting animated after death, enslavement, getting eaten after death, coming out from a challenge with less valuable equipment than what you went in with, selling your soul to a fiend, and becoming a wight, even if you're more effective afterward.