I have one campaign that pretty much uses the rules as written.
Then I have a new campaign just starting up, a crystal-punk swashbuckling game set in a flying city. Here's what we're gonna use:
HP are a bit like VP/WP. They heal at the rate of level/hour, and when you run out or take a crit, you start taking damage that divides across your Con, Str, and Dex (divide by two and round toward Con, then divide by two and round toward Dex -- so 7 points of damage would be 4 to Con, 2 to Dex, 1 to Str). Also, each time you take damage, you have to make a save. The save is of your choosing -- Will, Fort, or Reflex (reflecting that you might be tough enough to ignore the pain, fast enough to avoid the worst of it, or mentally strong enough to focus despite it).
If you hit 15 or better, you're fine (well, you're hurting, but fine).
If you get between 10-14, you are stunned for 1d4 rounds.
If you get below 10, you are unconscious (but in no danger of dying).
If your Con gets reduced to 0, you are automatically unconscious and have to make Fort saves to stabilize. The DC is 15. 5 or higher keeps you alive but dying. And you can spend an action point to ignore the hideous crippling penalty of trying to make a Fort save with a Con of 0 (in fact, you can spend an Action Point to avoid any penalties to your ability scores for one round).
And if you would have just died, you are, in the Conan sense of things, "Left for Dead" for a limited number of times. You automatically stabilize, but this only happens a few times over your career (every odd level adds one "Left for Dead" chance).
Armor provides DR and not a Defense bonus, and it only provides this DR against the ability damage (wound damage). If a Critical confirmation is also a crit, or if it would have hit by 10 or more, it cuts the DR value in half.
There are Ordinaries and Mooks. Ordinaries have HP and make all their saves as normal, although it's expected that they'll pass out after the first or second actual instance of wounding. Mooks, usually 1/1 ordinaries, have no HP at all and immediately start taking Wound damage when hit. They don't suffer other ability damage, but they're assumed to automatically fail their save if they take half their Con or more in damage, and to be stunned if they take less than this (this makes them fall unconscious very quickly, which is good, since, well, they're mooks).
It's supposed to be a swashbuckling game, and hopefully this will replicate some of that.