Kardwill: Yes, it's a "soft ironman" mode that is unsettling, but quite pleasant. The fact that you can not really "lose", and that any setback can be overcome with time and some dedication, make it sting less than the classic "you screw up, you have to restart from scratch" ironman in many other games.
Lemon_Curry: At the time of writing I had no idea that for main characters death is but a flesh wound. Now I find myself longing for higher risk-taking and greater consequences although I appreciate that the current approach encourages the player to simply have fun.
Well, ironman + long game + permadeath thend to not mix well. If you loose dozens of hours of gameplay if you go down, it's a very heavy inducement to savescum, or at least never take risks. And there ARE consequances to a lost battle : Disgrunted followers, losing experienced soldiers, losing the respect of a NPC, sometimes loosing lands or a castle (which are difficult to get) if you are a lord, or a vassal if you are a king. And there is the risk of getting captured, which is a pretty heavy setback : You have to get out of jail, then find your lost companions, and more or less restart your warband from scratch (but with an experienced characters with contacts, rather than your lvl1 stranger)
I would really like this game less (or at least, never play in ironman) if losing would screw my character over permanently.