Metalguy -
there are empirical relationships that have been established for hardness and yield strength for some steel products. Examples include yield strength of steel pipe established in a study conducted by Battelle for ASME a few years ago (see "Determining the Yield Strength of In-service Pipe" DA Burgoon, OC Chang, et.al., Battelle for ASME Gas Pipeline Safety Research Committee, 1999.)
Also, there have been some papers published relating steel weld metal hardness to yield strength. Those include (for example)
"Yield Strength from Hardness - a Reappraisal for Weld Metal" RJ Pargeter, The Welding Institute Research Bulletin, November 1978.
"Yield Strength from Hardness Data", letters to The Welding Institute Research Bulletin, by GN Rawlings, response by authors PHM Hart and RJ Pargeter, July 1979.
As for all empirical relationships, the data should only be used for materials that were within the scope of the original studies and extrapolations beyond the limits of the presented data are not advised.