Pros:
Balances tension by forcing you to stop for a few seconds, allowing you and your character to catch your breath after an intense assault,
Allows map designers to focus attention less on secret rooms and nooks filled with health packs, and more on everything  else.
Means you can keep pushing forward through a game, instead of back tracking lookings for health.

Cons:
Not really any more realistic to breath deeply and hold still to recover from a shotgun blast to the gut than it is to eat a hamburger or a health pack.
Is at this point almost a lazy gameplay cliche choice for developers.
health available is usually less than similar games, i.e. it takes fewer shots to kill you with a Kar98k in an autoheal WII shooter than in a medic based WWII shooter.
read screen gets very freaking annoying.

Yay.

I never ever want to have to restart a level over again because I saved when it was impossible to get by the next area without a health kit.

I say yay, I like to rush in, make a mess, and run for cover. That's why I like Halos 1 and 3 (I despise 2 for some reason)

Yeah yay, but I'm fine with a good old health pack game if they place the packs well enough

If it manages to stay challenging, then yes. They could also do like in Ninja Gaiden II and limit the max regeneratable amount until you find health packs or save.

Yeah because sometimes you had to restart to level just because you don't have x number of health packs

yay for sure.

Yay
but really doesn't effect me much cause I play rpgs that mostly never have regenerating health. but for fps's its cool either way its cool.

Yay, I hate scrounging around for health packs.

It just depends on the difficulty of the game, sometimes it is a benefit sometimes it isn't.

Yea.  It's the kind of thing you take for granted until you play something like GTAIV and it feels like prehistoric gameplay running around looking for health-packs and weapon pick-ups.

I gotta say, I hate it. It takes away the whole concept of being hurt tbh. You get shot by a sniper, and then you run behind some cover for a few seconds, and boom... full health (or mostly full health). I especially think it's bs for online multiplayer. It makes hit and run style players too effective for their own good.

Nay when i shoot some in a game and there down to 1% health they shouldnt be able 2 hide in a corner and come back good as new.

Do AI characters get regenerating health in shooters these days?

It is a big yay.

"Yay.

I never ever want to have to restart a level over again because I saved when it was impossible to get by the next area without a health kit.
"

Halo: Combat Evolved had it down perfectly. A shield bar that would take some damage for you then go away. Then a health bar that would not recharge and the game was over when that was gone.

Yay.
I hated looking for health packs. 

I'm all for it, few games have done it perfect or gives us too many chances but I prefer it to the normal health bar.

Yay!

But I like the health system in Chronicles of Riddick: Escape from Butcher Bay the best.

"Yay!

But I like the health system in Chronicles of Riddick: Escape from Butcher Bay the best.
"

I prefer it to stepping on a conveniently placed medi pack.

I'm in between, I want a game to have a combination between the two. Like if you get shot, you get some permanant health that you need a medikit to heal, but you regenerate a little bit of health too.

Yay

Yay, YAY. YAY!

YaYyyYY!

Honestly, I like regenerating health; but I think that it makes games a little easier in general. I only say "a little" because they still make the hardest difficulties on games like GOW and HALO quite challenging

hell no, i hate it.  Health packs FTW!!

I say yes all the way. You don't need to fuck around with health packs, busting open crates (I hated that aspect of Half Life 2). It makes games easier, but its less annoying, and on high difficulties it's still insanely frustrating.

I think health packs have been rendered obsolete by this regenerating health system. It's just so much better. I can focus on the gameplay, not my health bar and stupid pick-ups on the ground.

The only other system I think has merit is the Rainbow Six one where once you get hit - it aint going away, son. You gotta tough it out through the entire mission.

"I gotta say, I hate it. It takes away the whole concept of being hurt tbh. You get shot by a sniper, and then you run behind some cover for a few seconds, and boom... full health (or mostly full health). I especially think it's bs for online multiplayer. It makes hit and run style players too effective for their own good.
"

i say Yay

depends on the game. for faster paced, more actionny shooters like gears or halo it is a good deal better, but if it is more of a slower pace and concentrates on other things apart from combat health bar is better