Absolutely! We've experienced the joys of the plucky goblin (re-skinned halfling) thief (detective) bleeding out during combat twice already.I've found the -10 thing just adds drama over the year. Falling over dead at 0 is a lot less interesting than "you have three rounds to win before your friend is dead."
I'm finding the game plays much better with (middle-aged) adults than it did with (precocious) teenagers!Welcome back to AD&D. I've been playing it again for a few years, and I was also surprised at how fast it plays -- my memory of the game is that we spent a lot of time looking up/arguing about rules.