Regenarating health was what I always wanted, in fallout 3 i hated the stimpaks and in new vegas i was pleased with getting regen health (rad child).
What I do hate is this:
Im fighting two bandits, they got me down to 70% hp as im about to kill the first. NP i FREEZE TIME and enter the menu, where i drink 3 potions to take me back to full health....worst mechanic ever (the same goes for stimpaks).
I find it funny that people claim that it is
a) harder without regen health, yet freezing time at any point and getting full hp isnt worse? im talking about potions and stimpaks.

(bee, wont let me write b instead smiley face) unrealistic, yeah regen health is alot more realistic than the mid combat eating of 3 steaks, and drinking of 4 drinks. Heres a hint for you. Johnny Marshall fights two bandits and he is taken to 70% hp before killing them, now in the movies, dramas etc Johnny doesnt eat 3 steaks and drinks 4 beers in 3 secs before hunting down that dragon 15 meters ahead of him. And that anyone thinks this is a realistic and good move for games is so strange.
Id love a hardcoe mode with the following settings:
No entering the items menu in combat, sorry changing you inventory while fighting 3 guards isnt a good idea, and no your main character cannot stop time at will.
No eating, drinking potions etc mid combat.
No realoading for death. The dead are dead, and altering the timeline should beyond the main char.
Make these feautures toggles so that people can play with what they want.
Fine you wanna play at very hard and reload 20 times over a single game because your so leet then go ahead but i dont find that amusing at all, and its 100 times worse for my immersion to see my char forced in mid combat to eat 3 cows than any regen health could ever be.