I played for about two hours, with second highest difficulty. I think I'll be switching to Death March. I died to drowners a few times, but otherwise the combat doesn't seem like too dangerous. For example, I took out a camp of 5 bandits ("deserters" or something) by simply charging in with 20% vitality left and I killed them all. I mean, I did die many times during the 2 hours. But after a while, and getting used to sidestepping & dodging + shield sign, I stopped dying.
Since Death March doesn't seem to have permadeath (?), I think will restart the game and turn difficulty up since I have heard the game becomes easier once you get better equipment.
Awesome game, I love the combat. Significant improvement over last two games.