Blondie, interesting observation. As above translations quoted and the aforementioned thread indicate, it is a complicated Hebrew concept, not readily translated by English. This is what a few dictionaries bring out:
The active nature of ḥeseḏ is underlined by the use of the verb ʿāśâ in Zec. 7:9 and Ps. 109:16. Similarly, the pl. ḥasāḏîm in 2 Ch. 32:32; 35:26; Neh. 13:14 refers to the “good deeds” of Hezekiah, Josiah, and Nehemiah; in Neh. 13:14, this phrase is reinforced by the explanatory clause “that I have done for (ʿāśâ + be) the house of God and its furnishings.” In the broader context of ḥeseḏ we also encounter the verbs gāmal, “render” (Prov. 11:17), ḥāraš, “devise” (Prov. 14:22), rāḏap̱, “pursue” (Prov. 21:21), and the hiphil of yṭb, “make good” (Ruth 3:10); in the opposite sense we find mûš + min, “refuse” (Job 6:14 conj. For ms). The ʾahaḇaṯ ḥeseḏ of Mic. 6:8 also belongs here, on account of the parallel ʿaśôṯ mišpāṭ. On the basis of these observations, we can draw the general conclusion that the concept ḥeseḏ includes an element of action.
Hans-Jürgen Zobel, “חֶסֶד,” in Theological Dictionary of the Old Testament, ed. G. Johannes Botterweck and Helmer Ringgren, trans. David E. Green (Grand Rapids, MI; Cambridge, U.K.: William B. Eerdmans Publishing Company, 1986), 48–49. Most recently G. Fohrer, Das Buch Hiob. KAT, XVI (1963), 161.
—1. joint obligation between relatives, friends, host and guest, master and servant; closeness, solidarity, loyalty.
—2. ח׳ in God’s relationship with the people or an individual, faithfulness, goodness, graciousness (HALOT).
Conclusion: Mic. 6:8 points to our relationship with God, thus faithfulness, goodness, graciousness, are to be preferred. Joint obligation, thus loyalty would be used for human relationships. TDOT also brings out that the word hhesed requires an action: "love kindness," in parallel with "exercise justice." Therefore I would stick with the meaning of NW84.