I guess I'm a bit of an outlier here, but I find the game becomes much more open and exploration-friendly with at least an extra full wheel of stamina. I almost always go for stamina first, up to that first full wheel and sometimes more, then hearts after that. In my current playthrough I just beat a boss and got a heart container, but prior to that I had done the entire game only taking stamina. It's just that good.
The reason I do this is because there are a lot of cliffs, mountains, and steep slopes that are literally unclimbable without food bonuses if you only have the base wheel. The second stamina wheel is, in my experience, enough to let you climb / swim anything. It lets you climb any slope enough to reach a spot you can regain stamina at. Since I like the Skyrim approach of going over things rather than around them, that's what I do.
You can use "Hearty" items to make food that gives you yellow temporary hearts, which should be plenty to hold you over until you have enough stamina to roam free! You can also splurge on the expensive bed option at stables to get a yellow heart (or more, at certain locations)