To my mind this development changes nothing. All it does is up the bar at 1st level. Sure, you'll all be able to take more damage at first, but from what i've seen this will simply be to accomodate tackling more foes at first level. The disparity between low hit dice classes and high hit dice classes will be even more problematic than it is now.
That's the real problem. The wizard with 5 hits and fighter with 12 hits at first level becomes the wizard with 13 hits and fighter with 32 hits if this development is in. The difference between classes becomes even greater, potentially leading to even greater problems in keeping the low HD guys alive. I would rather any design decisions on hits at 1st level concentrated on closing the gap between low & high HD characters at first level than the inflation hinted at. Wizard 12 hits and fighter 16 hits at 1st level is better to my mind than 13 and 32 respectively. Then from 2nd level onwards, the gap starts widening again to better reflect training etc.