I'm toying with something I call the VP/HP system, loosely based off the VP/WP system. The basic idea is, at the start of every encounter, all the PCs get VP equal to their current HP (not including temporary HP). Damage taken during the encounter is taken off VP first, then temporary HP (if any), then actual HP. Taking actual HP damage will of course give you less VP in future combats (until you get the chance to rest and recover your HP, anyway).
I recognize that, as written, this will make the PCs VERY durable. This is intentional. I'm planning for there to be no clerics in the game, and magical healing will be very rare. There will be a healer/buffer type class with access to maneuvers from the Devoted Spirit school, with one tweak: Devoted Spirit "healing" maneuvers and stances add to VP, not HP (they are morale/inspiration based, not actual healing), and a character's maximum VP is capped at his full normal HP (so no extra padding of VP before anyone actually gets hurt).
I'm planning to playtest this with my regular group using pre-generated characters.