Uh, quake did the spawned overhealth as well. You spawn with 125, and it ticks down to 100, as make shift spawn protection. Necessary, because rails did 100, and if you got spawn railed, then you had 22-24 health to get away with.
Quake had it nailed. You could still maintain a base total of 200hp, and achieve a total of 400hp, with both health and armor ticking down to the base. Double an opponents spawning health when armored was still enough to make a huge impact, especially if you were equipped. There is no weapon stay in quake, only the option to jack the spawn time of it way down so it was similar to weapon stay.
If UT doesn't go the tick down route eventually, then I would like to see it somewhat nerfed in the next installment. 50hp less on something would be nice, as well as rounding out the overhealth thing. Whether it be 150/150, or 100/200, I think 300hp would be great, unless they do jack weapon damages up to be more UT like... in the end it really depends on the weapons. With less hit-scan though, we may not need as much "protection." As it is it's possible to be quite formidable without any armor, less being start-buttoned.
I, though, prefer the current spawn protection we have. Invulnerability for 2 seconds or until you fire is fine by me.