Who says that every hit was a solid hit, slicing the victim?
Considering how healing surges work, I see HP more as a sort of "it's just a scratch" pool. For me, the first solid hit drawing blood is the hit that knocks the target to bloodied, and the second really connecting hit is the one bringing you below 0 hp - and that's either a deathblow or a thump on the head, depending what the PC wants.
But then, I lean to see HP as sort of "plot protection".
Cheers, LT.
HP has always been partially physical damage though. Basically, the way I was taught and interpreted it was your starting HP are most of the physical damage you can take. The gain in HP with levels wasn't that you could take "more" damage really, but that you were able to anticipate and roll with the punches so each hit did less overall physical damage and this was easier than fractions.
Smaller slices, but still slices. The final hit is the final hit. The new mechanic doesn't make a lot of logical sense, it appears to be a simplified game mechanic. In old school, you announced you were swinging with the flat of your sword to do subdual damage for example. If you are trying to subdue someone/thing, you generally don't want it bleeding to death and THEN you try to staunch the bleeding. But, it also doesn't make sense to have the DM say "you have him at x HP" and then you change your damage or attack type either.
Again, not logical, but how in-depth do we really want to make subdual damage? I'm guessing a number of games almost never see a situation where you need to subdue. I think the old way made more logical sense and was extremely simple, but you also have a situation where a new version wants as many changes and streamlining as possible.