Each unit has a 3x5 card with the unit's stats on it. Those are Guts (morale), Accuracy (shooting), Melee, Endurance (hit points), and Reaction. The card also holds information about the weapons that that group carries. You could easily mark wounds on that card instead of on the table. The problem with that, we found during play testing, is that people will forget that figures are stunned or wounded if they have to keep checking a card.
The little tabs you see behind each figure are used to keep track of which figure is which in these Conquistador games. Since there is little uniformity, sometimes it is hard to know which figure has which stats or which weapons. When I use the WWII version, Combat Patrol(R), I don't need all the little tabs, because units are pretty homogenous: most have rifles, one might have a light machine-gun, and the leader might have a submachine gun. In these Feudal Patrol(TM) games, if you arm all the figures within a unit with the same weapons and armor, you can eliminate all those little tabs. I like the tabs for convention games with players who have never played the system before.
I use the small rubber bands like Mark uses to mark stun, wound, and jammed/out of ammunition. I like them because a) they don't hurt the paint and b) they stay with the figures. Mark uses the beads to mark morale checks, but I use three rubber bands near the leader figure. I like the beads in a convention game with new players, because you cannot do anything until you work off those morale checks, so the unit isn't going to move and accidentally leave them behind.
You might give the rules a try and then see if you can come up with (and share) ideas for reducing table clutter.