Well, I mean, even with VP/WP, you've still basically got the same stuff as Hit Points. You just add a little more in. There's a lot of precedents for times that character have had long-lasting injuries that take them a while to recover from, so that's where Wound Points come in.
So you've got hit points to represent all they represent in normal high fantasy D&D. Vigor, stamina, resilience, tenacity.
And you've also got wound points to represent those few times when characters should fear for their lives regardless of what level they are. Falling off cliffs, being dipped into lava, having a limb lopped off, etc. You might even have an optional rule that, when you're totally defenseless, damage goes straight to your wound points.