Thanks for posting that link, Slev. It is a big read, but worthwhile for those who have both games. There is a wealth of development there.
Personally, I'd like to see an iteration that was slanted toward four separate Hero players against a M/Z player. I imagine the order markers would work as initiative for the Heroes, as everybody would get a turn. A monster squad or monster Hero's order marker would also work for initiative, However, if there were any unused order markers in a room with few monsters, then the markers could be used for one-time effects (limit one per monster squad or monster common Hero). These could be special abilities requiring an extra action which are added to the HQ monsters, such as move/attack/move for Goblins. Alternatively, the AHQ actions mentioned in the topic (ie. laying a trap or raising an alarm) could be used instead.
The order markers would become more strategic if greater numbers were employed in an outdoor battle, which is what I'd want to see done with this kind of hybrid game. I mean, the terrain is so cool. A player could decide between mercenary squads, which would probably be bonded to Heroes. An Army of Darkness finale would be a cool way to implement this, in my opinion.
Most of my HS stuff is back in the States while I sit typing across the Pacific.
I bought a couple of the D&D expansion sets (with the Drow)and expansion packs along with some of the other stuff that was easy to get as HS left the market. I don't remember the rules, but the style of play more closely matched an HQ dungeon crawl than the vanilla starter sets. I remember things like mobile treasure glyphs--both temporary and permanent--and spell casting being available. I could see playing straight HS and HQ-HS when I one day reclaim them. Now I'm the wistful old man.