From: Michigan, U.T.B.
Yup, still hanging around. Here's a brief summary of the why's for the settings that directly affect infantry casualties:
Default for all is 100.
80 Hitting - reduces the chances for direct fire to hit it's target.
150 Infantry Toughness - Reduces casualties by 50%, note 150 is a round-off point which turns results of 2 casualties into 1.
180 Artillery vs Soft - Gives indirect fire back most of the effectiveness it lost when v.8.403 came out (memory is hazy here as to whether this happened with 8.4 or 8.403). Without this boost, artillery fire is anemic, and I'm not sure 180 is high enough, honestly.
As in my sig. line there are other settings too. To me they just all work together to increase the realism feel of the game.