I've always been a fan of the claymation-fighter perspective: you can get stabbed, sliced, and beaten, but your willpower/resolve/manliness makes you as clay, and organ damage really isn't so important in the long-run. I always figured the fact that the regeneration spell specifically calls out broken bones meant that hp loss just meant soft tissue damage, and the cure spells just sort of melt you back together (like clay) and fills in the missing parts.
I guess that's a problematic view, but I didn't even know about the Luck-based hp) until a few years ago, and that never rang true for me. It seems like a general inability to accept heroic characters.
Maybe it's because I grew up with adventure video games like Mario 64, God of War, and Soul Reaver where the cause of losing hit points was getting hit, and, in fact, not dodging.