Nope. Under the proposed system, you'd earn 50 dkp a week at 100% attendance and lose 10% (So 45 if you don't spend it). The decay is to encourage spending DKP NOW. You essentially have more purchasing power if you don't hoard. This will ensure that the raid gets geared up more equally overall. Instead of one person hoarding DKP for that one killer item, he's encouraged to spend it or see diminishing returns on his DKP accrual. If a new member joined the raid and bought NOTHING, he'd have a max of something like 130 DKP. A veteran member would most likely be around 300 DKP or so. Vets still have purchasing power but it's not too punishing to new members. The Decay numbers are also open to debate. 10% was a random number I picked out. Would 5% seem more fair?
Hence the iron man bonus. A second timer is to be run starting at 8PM sharp (Or 7:45 or 7:30 or whatever we decide our start time is). When that timer is started, a snapshot of the current raid + wait list is taken. Once the iron man timer is stopped at the end of the raid, another snapshot is taken and compared to the first snapshot. Anybody who was in the raid in both snapshots (From beginning to end) gets an extra 10 dkp. So if you're there the whole time but late, you get 15 DKP. If you're there the whole time, you get 25 dkp.
Each character's alts are registered to their main. If you bring an alt into a raid, you collect the DKP for your main and can the use the DKP on your main. I forgot to include it in the rules above, but I want for alt main spec gear to be equivalent to main off spec gear.