Oh. How worthless.
More or less. It was overnerfed really badly that way. The right way to go about it is to make it either restore the extra HP, OR provide the THP (one of the two, preset so you can't pick whichever's most useful), and then let it rock. That'd balance it out nicely.
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Twostuck, Homestuck RPG: http://www.gamefaqs.com/boards/8-gamefaqs-contests/63360266