For HPs, I use the following formula:
(52 x (CON + CON_BONUS)% x (base HP)%) + (3 x (base HP) / (#degres of BodyDev)) + (Prof. bonus_BodyDev x level)
For PPs, it depends... In a nutshell, each character has an affinity with his magical source, depending on his Realm of Power. For instance, for Essence spell users who draw power from the magical energies deposited in living beings, the more surrounded by life they are, the more powerful they are. For Channeling spell casters who draw power from a divine entity, the more attuned they are to their deity, the more powerful they are. For Mentalist spell casters, who draw power from themselves, the more motivated they are in accordance to whatever motivates them in life, the more powerful they are. (e.g., for one motivated by curiosity, the more his current actions satisfy his curiosity, the more powerful he'd be; for one motivated by personal gain, the more his current actions tend tower making him the richer, the more powerful he'd be). Depending on such a level of affinity, a character may need three complete hours of sleep or, say, thirteen complete hours.
That being said, I don't interpret nor play Realms of Magic the way they are in the RM rules, and, in fact, I completely disagree with how they're managed, so...