If you play totally without magic, health regen is nice as you don't have to rest or use potions to heal scratches.
One of my Oblivion characters had an custom mod making her unable to cast any spells. I then added an low level health regen, think it was 10 health minute.
Yes its a bit high in Skyrim, it should not be to restore from less than 50% just to deal with minor fall damage, getting jumped by wolves and similar.
I hated the system in Morrowind with passion, resting all the time kind of broke the flow in the game.
Always ended up using cast on use enchants for all common spells like healing, recall even attribute restore.
No the one who was high on intelligence potions did not but they was kind of unlikely to run out of magic 