Very rarely has this really cropped up in a lot of video games I've played. The only game that I've played were death has any kind of consequence was in Fire Emblem were if you let any of your non-primary characters die they are gone for good. There's also Soul Sacrifice but it really more pertained to your allies and whether you choose to save or sacrifice them (whichever you felt was more beneficial, you can save them giving a small portion of your health and bring with them back in relatively good shape or you can sacrifice them to cause massive damage if not outright destroy your enemies. Though ultimately while this does have minute effects on the story in large there is a disconnect here due to the fact that you can return to a previous chapter and have them good as new and rectify any mistakes pertaining to said characters).
What am I really getting at here? Well what if we played a game where death truly has a penultimate consequence on the narrative and can't be fixed through resetting the game or save states or any kind of programmed magic?
Well since this is a website largely dedicated to Devil May Cry, I'll use it to try to make my point.
Imagine if in DMC4 Nero died facing a group of scarecrows or maybe died fighting Berial or any of the other bosses. What kind of effect would render on the world in which this character is set in? Nero being the main character (or rather one of 2 main characters?) of the story....ya I'm kinda rambling at this point.
Any thoughts?