That still slightly lower than I'd do it.I agree with you the starting hit points should be higher to counter those 1st-2nd level TPK horror stories.
I would be in favour of
1st Level = Max Hit Points + Constitution Score (if your Constitution Score every increases so do your hit points).
I'd take out Con bonus to HP and let you start with 3 HD.
This also let's you play with Tough feat and having only warrior types adding Con to HD.

