Note that in the MTW engine each individual would only fight upto a maximum of three others at once, so even when completely surrounded the king was on facing three enemies which due to the stats each had little chance of hurting him, let alone doing it multiple times...

The 2HP bodyguards do not bother me as much in MT2W as they did in RTW. Maybe because the generals are less suicidal so you simple do not see the issue as much.

But in RTW you would often see the general's charging headlong in a formed up pike unit, smashing into it and breaking it up and then killing the rest of the unit (whom where now fight close up with swords rather than pikes). This was only possible because of the 2HP, any other cavalry units (pretty much) would have been devistated, but general's bodyguards could do it with no casualties...