Fanaelialae
Legend
I guess an easy third option would be:
Plot Immunized Rocket Tag - Attacks and defenses are fairly static. You have a stable pool of 'Wound Points,' and damage to that represents actual physical wounds. Then you have 'Hit Points,' which represent you turning a hit into a graze. When someone 'hits' you, you lose HP, and if you're out of HP you take WP damage.
You might also make it so HP soaks all but 1 damage, and attacks always deal at least 1 WP (that's the graze).
Design mechanics with this logic. So poison only affects you if the attack deals any WP damage. Falling down a steep hill? Maybe HP mitigates the fall. Falling with no way to catch yourself? WP damage. Caught off guard by an assassin? WP damage. A purple worm has a 'swallow' attack? It only works if the PC's out of HP.
You might recover all your HP after a short rest, and warlords might be able to shout at you to restore your HP, but only rest or magic can fix WP damage.
Monsters would have to be designed with some odd mix of WP and HP. Humanoids would have low WP and get more HP based on level/challenge rating. Big monsters might have no HP and just WP, or a lot of each.
I like the idea of using a damage threshold mechanic for something like this.
So, for example, perhaps your Fighter has a physical threshold of 16. He doesn't suffer any wounds falling down the hill because that only deals 10 damage. He loses 10 hp because he reaches the bottom of the hill a bit sore, but he's effectively unharmed. If he suffers 20 hp damage by falling off a cliff, on the other hand, he suffers an injury (wound point) from the fall, because his threshold was exceeded.
I prefer to extend the idea further, so that conditions are only applied if your threshold is exceeded. If a snake exceeds your threshold it bites you and you're poisoned, while if it doesn't exceed your threshold all you lose are a few hp from a near miss.