Not having regenerating health can create a feel of real danger , and makes you think about every action.
Non-regenerating health can be used in fast paced games too (such as UT2004 and such)
I think Tom wins this one (regenerating health is overused, and devalues your character's life and the authenticity of getting shot).
Although I think regenerating health does have a place in gaming; it seems to be a bad fad that is stapled onto almost every game, without developers even thinking about how their games would play without it.
rat-fish's comments