I'm pretty sure the code is something like this:
if dead hero fame >= 150, then award legendary fame point if not previously earned
if dead hero fame < 150, then award hero fame point if not previously earned
(where 150 may not be the cutoff)
Not unless they changed that. I had a hero die and become legendary, with little over 30/10 H/P to her name. Granted, that was back in... 2006-2007 or something