And even that can be circumvented if we're to believe Master Xehanort. xP
I don't think it's impossible or even unlikely for people to die in the KH-verse (after all, look at what happened to all those Keyblade wielders during the War), it's just that Nomura doesn't like losing characters so he always writes them a way back in. I respect that: character deaths should be used sparingly and with careful consideration, not as a catch-all dramatic writing device to make people care about what's happening **cough** DEATHLY HALLOWS **cough**.
Exactly this.
Bravo, I am actually a bit peeved as of now by people just proposing a main character to die for the rule of drama. Didn't we have enough "fates worse than death" and bittersweet endings during the whole series already?
Aside from that, I think we can safely assert that none of the protagonists are going to die. It would be incredibly anticlimactic in almost every scenario that's possible since:
A) Lea already sacrificed himself for his friends as Axel and it would be redundant to have him do it again
B) TAV, Roxas, Xion and Namine are all going to be "saved" from torment so killing any of them off would be equally redundant
C) None of the Disney characters can die, guaranteed
Agreed again, KH III's second main point is
saving suffering people, so any of the above mentioned would be anticlimatic in a form.
Oh, death
does exist in the KH-verse in the form of eternal sleep and when the soul used up all its energy, but memories (and by extensions hearts, and therefore the spirit/essence of a being) have been said to be immortal since Chain of Memories.
Furthermore, that people
remain in that eternal sleep is apparently also the norm and not an exception, as so far we have seen only one person who can directly revive people and that's Maleficent.
That beings can be
awoken from that sleep and return seems to be the exceptional variant.
The way Sora will have to do the issue with TAV, Roxas, Xion and Naminé seems to have
several conditions and needed tools (like the new "Key to returning Hearts") attached that makes the whole procedure pretty hard-working stuff.
In the end, we also have to keep in mind that KH is a
fantasy universe where such things can be very well included. Disney also isn't an argument since depending on
which Disney work you look, they also flip-flop between instances with permanent death and reversible death.
As for characters who might go to sleep and don't awake again from the "good" side, I'd say Eraqus and Isa are prime candidates.