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The problem I have with reduced mob density is, unless you buff the loot accordingly, nobody is going to like running through act 1 over and over again, especially the endgame.
Secondly, all maps would need to be significantly cut down in size to account for these changes. I strongly doubt most people are going to enjoy running maps where half of it is spent simply walking from one pack to another. We all know how tedious it feels to get through act 3, now imagine if those areas had act 1 density. That's going to be what mapping will feel like.
i was never in fav of less mob density. if you get proper CC/proper mob AI/ability to pull/separate mobs, even melee can deal with massive hordes. D2 is a good example- some areas had crazy mob density and it still felt playable- slower but playable.