just would like to point out that drowning is much mor controlable than falling (i use the fishing pool in POK), put your view straight up, back down into the water and let your dammage go down to arround 10% (lower can be get tricky) pop up out of the water hop out of the water sit down and start bandaging. I realize that with some AA this become useless. but by the time you get that you have many other ways to build up BW
Bind wound doesn't increase regen but at 210 skill I bandage around 80-90 hp per bandage. Add that to the level 63 regen disc for the pure melee classes (around 130 regen per tick) and normal regen and and gear/AA regen and its pretty useful.
So does bind wound really help with hp regen at higher lvls? Do you get more hp per bandage, or just not fail as often? I have heard of monks going out to lavastorm with bags of bandages and then standing in lava to get enough damage to practice this skill.