My group and I tried this and we thought it was fun...
Instead of the KO rules we changed it to this. (Not really for epic play). And just intended for fun!
#1 KO heroes may not get up on there own.
#2 hero buddies can revive or heal with Prayer of Healing ect.
#3 OL can try to keep heroes from healing or reviving if possible.
#4 If heroes fail to get there hero buddy up by the time encounter ends or quest ends hero dies!
#5 In town the dead hero may get a new hero but gear on last hero is lost!
We did this last weekend and really enjoyed it. Just thought I'd share that.