A good feature of this hunk system is... you already know how much your server will need. If you use some flexible system, a memory leak will result on server memory needs growing and growing..
The hunk system is a good one. Safe and fast.
Anyway you can tweak even more, maybe, ....theres a command to list all block that z_malloc use. Or you can create this command. Because z_malloc can name block, you will see what is allocated and is not on a pure server. Maybe the map loader load lighting stuff, or other non-server stuff on memory. So maybe you can tweak the map loader or other random stuff... but maybe this is not a good idea, because with the hunk already getting his space, you will not save nothing.
So maybe "its not broken, dont fix it".