I would use a "killed" eventhandler on the player
have the script that is run from this, save the position of the dead unit (You could even save his weapon loadout)
and then when the player is alive again, simply setpos the player to the deadpos location
The only problem i can foresee is setpossing the newly respawned player intom a killzone, however, if you setcaptive the player and then setcaptive false say 3 seconds after setpossing him, he will be able to find cover before he gets shot again