Damn, this IS going to be a challenge.
You can get an implant that gives you natural health regen, plus there will probably be a Perk or two that can help out in the healing department. Not to mention that bullets will still do around the same damage as Fallout 3.
What I'm saying is that the game on hardcoe mode is not going to be super hard (FWE style) or anything, although it does seem like it's going to be lots of fun.