Ok so I've been mulling about this for a few years, on and off, but I think I'm getting close to a playable and familiar version of Hero System with miniatures.
Here are the "revisions" used with miniatures play, and the excellent power framework built into HERO.
Initiative: Playing cards determine the side taking the actions, one character at a time. In a game where GM is present, he should play the NPCs and mooks. This style of initiative shakes the action economy a bit, and involves the use of some strategy during combat. Characters and mooks have their Speed in actions, and if one side runs out of actions during a turn, they will be unable to act until a Joker is drawn, ending the turn and refreshing Endurance pools. When both sides have used up their actions, the turn ends and the card deck is shuffled. Start a new turn by drawing a fresh card.
Mooks: Mooks go down when they take 10 Body, or 30 Stun in one attack. They will not go down by anything less. This is to manage bookkeeping during a game, and to make the combat a bit more intense.
Heroes/PCs: Heroes have wounds equaling (Body/5) 2 wounds on average. Every 5 points of damage received tick off one wound. Every 10 points tick off two wounds. A roll of 7, for instance, causes only one wound. Increase the amount of wounds by every increment of 5 points. Armor (DEF) is used as normal, absorbing points of damage.
Important NPCs are run the same as Heroes, wounds/actions etc.