As a DM, hell no - just keeping up with hp for multiple monsters is sometimes a pain.
However, I wouldn't mind trying out something that tracks long-term wounds to PCs - breaking an arm, knee injuries, concussions and the like - as long as they were fairly rare.
Being able to inflict a condition that emulates cracked ribs after a 30' fall, for example - would be something I might be interested in looking at.