1) you dont need expensive stuff to have fun.
2) these types of games usually need/involve grinding. Same as WoW or such. It's just how it is.
and the 2 hour thing is NOT loosing 2 hours of play time! Stop manipulating the rule. it is for THAT system and to do with THAT player that killed him!
1) But you need 20 millions for a fair-chance fighter. More for each other ship you want. Not to mention you need credits to maintain ammo, bats, bots, etc.
2) Freelancer isn't MMO and you don't usually grind money in WOW on sole trading. You can earn money in Freelancer through missions. But those, aren't really profitable.
3)It is, when you have one character and there's no alternative - or simply character was killed on a pretty system. Also, rule can be abused pretty easily by logging off another pirate character (the rule is nullified if killer leaves the game even for 1 second).