regen. is shit.
fun at first but allows to recklessly charge at your opponents without worrying about anyting.
COD2 had rechargeable health right?
Played it a bit but charging head first at machine gun position killing bunch of guys and then waiting behind a rock for few seconds then killing the rest of soldiers is fun...
at first.
gets old quite easily. with no consequences to your health games become primitive easy. getting shot is meaningless as long as you survive it and don't get shot for another few seconds.
(I played the game at my friends' house. they laughed at my tactic of kamikaze. but it was effective.)
so BIG no to health regeneration.

Games with recharging health are challenging as well though, just in a different way.

I'm not a fan of regen health.
There have been several moments in FPS games in the past when I had very little health and had to produce a near-miracle to get to the next health pack/end of level. This made the experience tense and exciting. When I got past these points, I felt like I could beat the rest of the game, I felt ten-feet tall.
Regen health just feels lazy to me. It makes me wonder about the quality of level pacing and planning.

Great. (not)
Well, I guess this is the new way of gaming. Just give the people something to shoot at. No need for all other things. :/
Oh, how much I miss the days where games were supposed to get the best of you.

Talk about disgusting noob trends...

Oh dear, we clearly have another Master Chief.

You mean a 100% average clone of Elite Force that totally misses the magic of the first game, has limited tiny environments and feels more like star trek than star wars? ;-)
I think i might pass on that.

I have an MSN account I just don't use it anymore, its filled with too many people that I don't want to talk to. You can get me on xfire at username Ralackk if you like or come on IRC gog channel, otherwise just email me.

For every time something like that made me feel cool, it made me frustrated and annoyed 10 more times.
Regen can still be hard, it can even be more tactical, in my experience, and lends to a more realistic game world without power-ups sitting around or magic pills which heal bullet holes. At least with regen you can just say you were nicked, or almost hit, or what-have-you.

And when did any FPS health system make sense? Tripping over medikits instantly revives you after you've been shot 100 times, does it?
There needs to be a combination of the two. So you have a trauma and a health bar. The trauma bar shows how much damage you can take in one go. Too much and you're dead. The health bar shows your overall vitality. As it decreases, your susceptibility to trauma increases.
Health never fully recovers until the mission is over. But medikits can stop any bleeding and further loss of health. They also recover some of your overall trauma meter. Naturally, decent armour means your health is less affected by ballistics damage. So the system would require you use stealth and cover rather than charging in guns blazing like the you're friggin Odin.
What do you guys think? An improvement?

Neither method is realistic in any way, you have to handwave them as necessary in the majority of cases. Delta Force I remember being quite realistic, it had no pickups or regen, and you died in a few shots. However, that wasn't about you gunning your way through thousands of enemies which is what the majority of FPS games are about.
I don't play FPS games these days though, so it doesn't affect me. My era was the Doom-to-Quake 2 era, and things have moved on quite a lot since then, for better or worse.

If it makes sense I don't see how regeneration is worst than hundreds of med-packs lying around just waiting for you to walk on them recover health.

Exactly why is this a problem? If the game is story based (I really hope it is) then what's the point in dying all the time?

IIRC similar system was used in Vietcong 1 on higher difficulties. On easy the medic healed you to full health, on hard and hardest your maximum health was lowered with every shot.