I suppose your approach to deadly encounter frequency is okay, as long as the players have options to parlay, negotiate, run away, or find other ways to avoid the risk. I was not thinking in those terms. But that was definitely the key to old school gaming. However, I think it's good to have a balance of encounters from easy to deadly. Otherwise, if they are all deadly, encounters might become monotonous, or the PCs may never take them on unless there is something major to be gained. Personally, I disagree that 5E does not offer as many chances at death. There are rules and guidelines for encounter building, but they are neutral. They are designed to help the DM build encounters that are easier, more balanced, or more deadly. It is all up to the DM. If the DM and players prefer to have greater risk of death with greater frequency, it is easy to achieve. The rules provide a quick guideline for how to achieve this. Also, the risks in 5E can go beyond combat into many other areas, such as an acrobatics check to navigate a narrow cliff ledge and avoid a drop to certain death in a ravine below. The game is as easy or deadly as you would like it to be, without resorting to house rules. With the entire monster manual at your disposal, it is a simple exercise to present the PCs with a truly deadly encounter or the prospect of a total party kill. I agree that the risk of character death helps create tension, which can make the game more exciting for many players. However, if the risk is always high and always deadly, it seems inevitable that a lot of characters will die, and this might cause some players to become frustrated and lose interest. That is why the ability score rules were adjusted in AD&D and why we have seen so many innovations in hit points, healing, and other rules. Think of it in literary terms. Would a trilogy of fantasy novels be successful if all four of the main characters died during the course of the first book, and they were replaced by other characters? No. People want to invest in characters emotionally and see them succeed. One or two deaths are a tragedy and can bring meaning and gravity to a story. Wiping out everyone in the opening chapters is probably going to lose your readers. I don't mean to imply that you are looking to kill off all your PCs, but hopefully you get the idea. In the end, I think it is all about balancing risk and success in the interest of immersion, tension, release, and fun.