No, but I would like to collect the game (M&M) if the system is unique. Has it been newly published, or can I get the game somewhere used?
I think Experience Levels should be treated exactly as that, experience. Certain experiences cannot easily be taught. Unless you get on a horse and ride it, no one can explain the thrill of riding across a field at a gallup, can they? Riding in an airplane, jumping out of said plane (which I've never done), has to be experienced. If you've never been hit by a hard fist in the face (many of us may have had that experience
), you might not be able to recover fast enough to nail the guy right back. You would stand their stunned, while the guy laughs at you. So I think Experience Levels do have merit, but I think they can be represented as separate levels for each skill, ability, proficiency, or what have you.
I don't think you should base your hit points on experience. Fighting experience should help lower the chance to be hit, but once you get hit, that's it baby. Let's hope it's not a natural 20!
Maybe I'm way off base here, but perhaps you can use the Exp. Lvl. as a form of Worldly Wisdom. Even if you're not too good of a player, the GM can say something like this; "Oh, you wouldn't want to do that, not as a 15th level Monster Slayer, the Giant Slug wouldn't even feel that!"