Corrosion destroying items didn't lead to fear, it just led to people completely avoiding the monsters that could potentially destroy your items. It's not like it enhanced combat or added a challenge.
I have to disagree there. Running through the caves underneath Dverghiem and then suddenly swarmed by black puddings, pretty damn scary.
It enhanced combat/Made it more challenging by having to figure out a different way to fight them (Spells, missile weapons, throwables and now Electrum Gilded weapons) Or just figure out a way to try and get past them without getting hit, possibly getting trapped.
And like I said earlier, it would make Electrum gilded armor/weapons almost a necessity. Want to go to ooze city? make sure you got your Electrum gilded armor/weapons before you go.
I can count on one hand how many times I decided I wanted to fight a corrosive enemy. One time I went to Ooze City with a Druid, and a gang of dudes, post-patch and we actually enjoyed it. Before that, we wouldn't even bother with mundane puddings because the risk was just too great compared to the reward, when we could just.. You know, go kill Wererats, or Werewolves, or Vampires, or something significantly more rewarding and less costly than insert-corrosion-monster. Unless you just like handicapping yourself for the chuckles, most people adventure on a risk/reward ratio, whether that's loot or XP. Most of those monsters didn't even confer decent XP, and there was absolutely no loot. In return, you potentially lose your echanted plate armor that cost you two levels, your sword, your amulets and rings -- And considering that a nontrivial number of players that've had a character longer than 8 months are utilizing out-of-circulation or limited circulation/rare jewelry to supplement their enchanted gear, you're basically telling them that whatever those corrosion monsters have to offer, is worth losing equipment, which in this instance, is harder to replace than their character's own lives.