The extra HP can save your *ss very often. Without a dedicated medic and with moderate to poor positioning as a support player. Personally, I've been killed by a siren or a bloat on SUI every time I used the extra damage skill.
The thing with that is If there is a medic on your team or anyone with a healing weapon = free kills first 2 waves (knifing to save up dosh). Looks like I'm the only one taking the extra HP.