Conquered cities/nations would not add much to the manpower pool initially but as time passes they would slowly add points into the manpower pool. While big nations could have ,naturally, big armies. Therefore small nations could really only have small armies because they only have small manpower pools. To find out what manpower levels you have, you would add the population points of all your cities together and then take 30% of the total. As such medical units and hospitals wouldn't actually heal units, but as it were increase the survivability chances for wounded troops to heal and return to the manpower pool. Run out of manpower and you cannot build any new units, nor repair damaged ones. In civ the idea would be that of instead of churning 100's of units endlessy spamming cavalry until victory was yours, you would be limited by the manpower pool. Every time you build a unit or suffer losses it comes out of the manpower pool.
MANPOWER: In hearts of iron you have a manpower pool. This would basically update the combat of civ to include some new concepts that would add alot of balance to the game. So why not make a mod that incorporates the two. For me a blend of the two games would be great. I am a big fan of civ and a big fan of hearts of iron.