Kpt L is right... there are somethings that will change a bit.
But you are changing to introduce more realism in exchange for a little less realism, coz lets agree, the instant death screen is the most irrealistic thing in the game.
Anyway, depends on each individual person to decides what their game should look like. If anyone here hates that screen as much as I do, you are free to try a mod I just did.
http://www.subsim.com/radioroom/showthread.php?t=128593
I haven't found more than one issue using this... feedback are welcome, so we can find another issues on using this.