I just googled how to make a new spawn point, and ended up here. My boyfriend and I created a server so that we could both play together. We went mining, and found quite a bit of diamonds, gold, etc.. also had enchanted diamond pickaxes. We were really close to being out of the cave when we died. So naturally, our first thought was "No problem. Our house is right by our cave, and we slept in the bed, so we're good to go." - Too bad that we came across this bug as well and lost everything we had. We had to go into creative mode as well, and we enabled the flying option. This happened more than once, too.
Until this bug is fixed, it looks like I'll just die (while holding nothing, of course), and when I go back to the spawn point, I'll fly to find which way is home, and make a powered mine cart. It wasn't too terribly far from our home, but it was still far enough that if we had to walk there, our stuff would be gone by the time that we could get to it.
Please, let me know if you guys figure anything out.
I tried to take a shortcut to kill myself so that I would spawn where we kept spawning by typing /kill.. and now where I died is my spawn point. I kind of glitch out though and can't move until I either break the block below me or go into creative mode, fly, and then switch it back. It might be a little annoying to have to tell the server that you're playing in creative mode, and then back.. but at least it works, and it puts me in my house instead of a long ways away.