I know this is a "rise from your grave" thread, but seeing it again reminded me of how my tastes in gaming have changed. I used to love Rolemaster. I had a near complete collection. And even now I have "Versus the Darkmaster" which is very inspired by MERP.
The thing is, with those systems, even when playing as defensively as you can, you're basically a couple of die rolls away from dying. All the time! I'm not sure how to work with that without losing what makes the game unique.
I think if I were playing that kind of a system now, it would be very different in practice.
But I do love the "Vs Darkmaster" system, so maybe I'd give it a try.