The problem that I find about the health thing, is that nobody finds health management FUN. I don't feel the need to make it a ridiculous contrivance for the sake of "realism". Video games are never going to be 100% realistic. They can be immersive yes, but previous health systems haven't really negatively effected immersion (some may consider regenerating health to be 4th wall breaking, but honestly its just as bad as health packs. And because I have been gaming for a while, I've become used to all these different health systems.)
edit: I apologize for the necro, please delete this thread :/