Hmmm... Torque values would likely be very dependant upon what kind of thread lubricant you are using. I have a copy of IPT's Industrial Fasteners Handbook, and they recommend for sizes 1" and under, NPT joints should be hand tightened 3 or 4 turns and then tightened by a wrench for 3 turns. Specifically for NPS 1/2", they recommend 7-1/2 turns.
One major caution that they mention is that a joint that is made-up too quickly will generate a lot of heat due to friction. A joint that is pressure tight immediately after assembly may leak once it has cooled...