You can still feel the pain but your body won't take any physical damage, instead, the damage is taken out of your hit points. For example, if you survive getting hit by a car, you'll still feel all the pain, but your body will be fine, meaning you can stand up, walk, and do things. To restore health points, consume calories and your hit points will regenerate up to full depending on how many calories you consumed.

TLDR: Your physical health operates off Minecraft logic now.