Dave Arneson's Hit Location System: Fixable?

[Havard]

The recent podcast about Supplement II made a bit of fun about the Hit Location rules. Of course, it is commonly known that Arneson himself didn't like them either, but simply wrote them because he was asked to do so by TSR.

I'm not a big fan of hit location rules in general, but both RuneQuest (Pre Mongoose) and Warhammer has them. Could the Hp from Blackmoor be "fixed"?

How would you do it?

-Havard