(I don't hold that pre-4e HP did this, either).
To put it another way, maybe the HP=wounds explanation of HP made sense to those who don't care about disassociated mechanics, and that's great. But it doesn't make any sense to me.
And this, right here, sums up the whole thread:
(1) If you prefer HP=verve then pre-4E and 4E equally serve your needs.
(2) If you prefer HP=wounds then pre-4E serves your needs, but 4E doesn't.
(3) If you are completely unable to understand the other person's POV (as you've admitted you are incapable of doing), you end up in threads that spin their wheels for 600+ posts.
Well, it's clear that you are only wounded if you die. Otherwise you weren't.
This is the Schrodinger's Wound I was talking about before. It makes it impossible to actually describe the game world except in a retcon after the fact.
And that, of course, is a huge impediment to actually roleplaying. How are you supposed to make choices as if you were your character (the definition of roleplaying) if the mechanics won't even let you see the game world?
It's not really meta-game knowledge if it is the character's reality. To them, in the game world, they are back up to full HP after a 5 minute short rest, and they know that. They also know they regain Encounter powers, etc. This is the reality of their world, they need never worry about broken bones, punctured lungs, and other lingering wounds because they, and every other PC, has Wolverine's healing factor in the game, and they know it.
This is the trap, actually. If you try to treat these as roleplaying mechanics you end up with a universe where people really CAN heal their wounds by shouting at them. (Or, alternatively, be poisoned by blades that never touch them.)
You have to accept that these mechanics are not associated with the game world and that while you're using them you're not roleplaying. (Although you may be roleplaying near them and around them.)
The only other option, as you say, is to embrace a gaming universe where the fourth wall is broken and the characters know that they're just characters in a game.
You might as well just get rid of any sort of real-world challenge and just make the game even easier and simpler by saying, "Everyone gets a Healing Burst after every single encounter. It heals you to max and now you can go to the next encounter without any worries. Have fun!"
Actually, I don't understand why 4E doesn't do this. The entire system is designed to emphasize tactical challenge-by-encounter instead of long-term strategic challenges. But then they put this essentially meaningless and arbitrary limit on the number of encounters you can face in a single day.