Although i enjoy a certain wild west feel to a server without a /home command, it does take a bit from the point of building a base. I agree that the most annoying thing during a pvp battle is to have your enemy type /home and disappear, however i don't think this should overshadow the command completely. May i suggest implementing a /home command with a 10s "standing still" delay. This way it is as effective for escaping combat as quitting the server.
Just an idea,
Thanks,
Dan