Good post. It covers both problems I had with that combat video, falling animations being same for every hit and 1v1 combat lasting too long. If characters can only survive 2-3 direct hits, it would be much better. The player character got hit like 4-5 times and still seemed to perform well.
Well, that's ultimately a problem with the wound system; the way they explain it, you die when you hit your "max number" of a certain type of wound. If getting hit by a gun can fill all tiers of wounds, then it stands to reason that you can get hit and injured half a dozen times or more without dying. If, on the other hand, most gunshots are near-lethal, then you have a balance problem with the wound tiers and reduce the need for the doctor's visit after the mission. This kind of system will require careful balance tweaking, which seemed to be generally absent from SitS. We'll see.
And if you have the developers ear it would be good move if hit chance was presented next to mouse when mousing over enemy with action you picked to use on him. It will be a bit less realistic but more like Xcom and will attract more players.
That would be a lot less very useful with this system, since the enemy can often move and you can get hit before executing your order. It would still offer some predictive utility, but it could also confuse the XCOM crowd, who expect "90% hit chance" to mean "this shot will have a 90% chance to hit when I execute it".