Yess, but with the Super System, and maybe the character AP gain can be a little more so it doesn't get too slow.
I say make it three lives since it is kind of easy to get caught in a dumb super for no reason
Or how about start off with only one life and if you kill, say, 5 or ten enemies in a row, you get another life added to your count. As Atom stated, it would be kind of bad to get caught off guard by one super. So maybe a way to accumulate lives. I wouldn't make it an easy way to accumulate lives, but just so that it's more forgiving.
I apologize man! I didn't see your post, but yes, that would be a good idea! This is what the forums are for, to share and create ideas!