Recommend looking at the preview for the second edition of Knave. It does hit points like basic editions, but each character also has wound slots equal to their slots of for carrying items. When you go below zero HP, you start losing wound slots and you have to drop equipment. Hit points can be recovered with a good night's rest, whereas the wound slots need a safe environment, recovering one slot per safe night's rest. Also everyone is just rolling 1D6 / level, rerolling all d6s each level to help average out HPs.
It's a nice balance of OSR and nu school.