I can tell you there is a (Reccomended) next to NO, so Obsidian doesnt reccomend it. From what I can tell hardcoe mode is for the true Masochist, those who just *love* punishing themselves.
You'd honestly probaly be fine on normal or hard if you want a challenge but want fun too.
You're making hardcoe mode sound a whole lot harder then it actually is. To be honest, I keep forgetting that its on... it really doesn't make the game harder or anything. Sure I can't sleep and heal, and need to eat/drink from time to time but that's it. I'm always drinking water and eating food anyway, and money/stimpacks are not an issue after the first couple hours. The ammo weight isn't a problem either because you only need so much ammo at any one time.
It adds a touch more depth to the game, but make it harder? Not at all IMO.