Third person view shows me as being knocked out on the floor, then coming to rest in a sitting position, just like a humaniod companion does when they lose all their health. After a second or two, my character rises up like nothing happened, again, just like the companions do after combat.
...I beat SWAN the Super Mutant Behemoth with nothing but a sword, and this startling newfound ability to defy death, and Swanzy's boot.
If anyone else has this problem (is "problem" the right word?), feel free to speak up. I'll post this in other sections too. Who knows, maybe bethesda knows about this glitch.