If you can spawn at any faction station for free, you can fling yourself to the far side of the universe instantly, for free, so long as you've built a station there. But that's still an exploit. You can build a station right next to an expensive shop and spawn there, and one at a cheap shop, and commit suicide as often as needed. Assuming the profit from selling crap is more than the cost of the stations.
Unless we remove players being able to keep their inventory contents when they die. But then, if you were flat broke and under siege, being able to spawn anywhere you've set as spawn previously wouldn't help you anyway; you'd just be stuck, broke, and without a core or any other components. If you can spawn anywhere you've been previously, like a really expensive station, and dont lose your inventory on death, and if the spawn cost for the distance isn't prohibitively high, you can make a profit anyway. If spawn cost is dependent on what's in your inventory, you're paying for everything as if you'd lost it. If spawn cost IS so high, someone who has no cash and only the stuff in their inventory couldn't spawn anywhere except right where they're being spawn camped. If you can only spawn at a few preselected locales that are available to everyone, your enemies can wait for you there and kill you as soon as you leave that sector, say if you have to fly out in only a core because you don't have/cant afford anything else. Those are also exploitable if any of them are near a shop that lets you sell for more than a shop near another public spawn. If you can only spawn at the same point repeatedly, you can be spawn killed repeatedly.
And thus, this conundrum leaves us with nowhere left to spawn. :p
Of course, players would still be making the same profit, or more if they still had credits to their name outside of the goods in their inventory, if they just flew there with a jump-capable ship. It would only take a little longer, your friend could come with you, and you don't have to fiddle with the spawn mechanics to avoid losing faction points for dying because you timed your suicide wrong.