This is something that was implemented in 88Flak (R.I.P), a mod I used to play back in the days before I joined Disco.
It certainly made combat against capital ships more interesting because you knew at all times how much damage you had to do/could take before dying. Of course this meant no more baiting people with low hull points to regen and wrecking them afterwards, but it's still something worth testing, in my opinion.
