~TENSION~

Hmmmm... Well, given that explanation, I think I have a few distinct examples of tension (my battles don't have much, sorry) in my game.

1. When you get party wipeout, you can choose to continue or quit. Continuing lets you keep going with whatever items you've collected, which is great. But you lose a level and much of your gold if you do. You can mitigate the level loss by buying a rare item (but it is expensive enough that you could've bought better gear and armor instead) and the gold loss by using a bank
2. Monsters drop items, but usually not gold (unless they're humanoid or dragon). So you end up being stuck with weapons that you have to decide whether they're good enough that you want to use them, or rare enough to sell. They also drop carcasses, which (sometimes) are good for Alchemy or Necromancy. Or not, and you have to decide/know.
3. The biggie. There is a rather good reward for beating the game without saving once (a huge amount of gold, and an equip that guards against most conditions, including weather ones, which tend to come back even if you try to heal them). This does alot of things, particularly encourage low-level game completion (since many bosses are easy if you manage to make it to level 60 or so). But the game is long enough that it's hard to complete in a sitting. So, can I beat it in time? And would this fast grind come back to bit me on the bum come the final level? Because of #1 I usually can't get disqualified due to battle, but bad endings (you have to get the best/second ending to get this prize) are an option, as are really stupid deaths (falling into a pit). Bounty hunt monsters can perm-kill you too, but the treasures you get from them are pretty awesome.