No one was disputing that the consoles explode on screen, and pretty much everyone has accepted that there will be something like this in the final game (assuming the devs go in that direction, and I have no reason to think they won't). What we were arguing about was whether it made sense, which it really doesn't.
That fact of the matter is that without an official (or unofficial really) statement from the devs about their plans this is all speculation, but it's all useful speculation, it gives the devs information from us about what we're thinking the game will be like, what compromises we're willing to accept, and ideas on how to integrate this canon occurrence into gameplay (perhaps the most important point of the whole discussion). Make no mistake, that's a difficult question to answer, and it's next to impossible to get a system that everyone agrees on.
For my own point of view, I'd actually keep the consoles exploding, as it is canon, but I'd make it pretty rare, and reserved for 2 events:
1) a direct hit to the bridge or the immediate area around the bridge. A localized power disruption from a weapon impact should be more than enough to justify a console or two going up in flames.
2) a serious overload of the power system. Very plausible, though if this is happening then an exploding console is the least of your worries.
I'd probably make the exploding console less-than-lethal for whomever is stationed there, as having to replace a crewmember, at least a main one, means another set of voice files, which can quickly add up. Background characters that might have at most a dozen lines isn't so bad, but again each replacement means additional work for the audio team. Putting someone in sickbay not only serves the necessary gameplay purpose (i.e. disabling them, without the need for a long term replacement. The first officer or the captain could step in for a major bridge post in a crunch, and if you're getting to the point where there are 2 disabled stations on the bridge you're probably going to lose anyway), whilst also keeping the necessary voice assets low.