It always seemed as if steps 2 and 3 were intended to be more or less simultaneous, in the fiction of the fight.

I guess that’s one way of looking at it. This is the sort of thing that matters most if the attack will bring you down to zero. It mostly prevents fights where both parties die, which I thought could potentially cause issues a while back.

Dealing the final blow already gets you the best (and sometimes the most) loot - it shouldn’t also be the safest attack to make.

I agree with Kevan.