It has always been like that. Remember, delete isn't just about removing content. If you want to move items from one folder to another you need to be able to delete the content.
The only way you can grant read only access is at the folder level in the mailbox. However that cannot be done or enforced server side. A user could remove the permission from their folders at any time.
If there is a need to have a copy of email messages for auditing purposes then I would suggest a journaling system is setup, probably with a third party tool. There is no need for any account to have access to all mailboxes by default, with the possible exception of BESADMIN (for Blackberry Servers).
Simon.