Take out degeneration from not eating, it only adds unnecessary annoyance to the game. Even as a person who has like 2000 wheat stored in chests throughout his massive country, it would be a huge pain in the ass to keep up with this. What if you're down in a dungeon and it turns out you don't have any food and all of the sudden you start losing health. I'd always have to carry around a work bench and some wheat, or a few pieces of bread EVERY SINGLE PLACE I GO. As a purchaser of building materials, I usually end up running around with my inventory completely full, and every extra item that I'm forced to lug around with me under fear of death just makes me rage harder and harder.
As I understand, you're doing this to raise the value of food as a commodity, which will not work at all. The reason why nobody buys food is because everybody has their own wheat farm already.
Regeneration for lots of eating on the other hand can't really do any wrong, so I approve.