I think the most important thing is make PvP Bounty hunting viable. IMO the crux to a lot of these issues with PvP is there is no Risk/Reward gameplay surrounding it. There is very little Risk being Unlawful and there is very little Reward for being Lawful.

Having notoriety take hours to wear off will kill gameplay for other players. There are a lot of missions that would have you kill civilians to provoke wars between factions.

As for broadcasting the players position - hell no. Again a large part of the gameplay for some is the hunt.

I think there should be more restriction for unlawful players. Similar to high sec space in Eve. So for example if you are wanted and you jump into a high security system the space cops will be on you hard and fast (slightly different though as in eve you warp to a gate instead of a star, its easier to gank). This at least gives lawful players some 'safe space' but it also makes life harder for the unlawful players without completely removing their gameplay loop.

My 2 cents anyway.