Some of the HP thing is just a question of how the DM chooses to describe it. If the DM is describing physical wounds, then the "magically healing faster" makes sense. If it's muscle aches and pains along with minor bruising then the other makes more sense.
For me it's a combination, basically action movie healing. Ultimately it's just a game and an abstraction to keep the game moving and allow for the ludicrous number of fights PCs get into and survive.
For me it's a combination, basically action movie healing. Ultimately it's just a game and an abstraction to keep the game moving and allow for the ludicrous number of fights PCs get into and survive.