As regards initiative, you're right that it could be quite deadly. As Narrator/GM you can choose to not have the adversaries have their shots set to kill, especially if they're faster than the PCs.
As long as one PC is the fastest, and hopefully he/she has Quick Draw and is a good shot, it shouldn't be a problem!
Doug Taylor
Member of Decipher's Hall of Fame
Currently running The One Ring RPG. I also occasionally run Villains & Vigilantes (our campaign is in year 25) and WEG d6 Star Wars (both games are mostly on hiatus) and an annual game based on The X-Files (using Conspiracy X).