Thoughts about Morale

I personally don't like this rule, and always play without it.  In a squad based skirmish game like this where every model has the potential to change the tide of war, the morale rule is just senseless.  To be able to lose half of your remaining units due to bad dice checks just isn't fun to me, or the friends that I play with.  As it is right now, morale just punishes you for losing, and gives the winning team more of an edge.  It's like "hey we see you've lost half your team, how about we just go ahead and get rid of the other half while we're at it "  We've played matches where the losing team made great comebacks because we forego this rule, and those fights are really exhilarating.  Even when I used to play Killteam we never used this rule, and if I'm not mistaken, the new version of it got rid of morale.  However, by playing without it attributes like Fearless or other morale altering perks become useless (unless it's a morale test due to a spell), and I've yet to come up with a better replacement for them.  I hope one day OPR gets rid of (or modifies) this rule, as it is right now it just is not fun to me or anyone I know.  What are your guy's thoughts about morale?  Do you like it, or have your gripes with it as well?  Or do you have any alternative rules in it's stead?