Incorrect. Please don't confuse Modulas of Elasticity with Yield Strength.
They both use PSI as units. Neither has a direct connection with the toughness (impact or fatigue generated)
ME or just E is basically the slope of the stress strain curve BEFORE the elastic limit is reached. Meaning that slope is the "stiffness" of the material. A lower number indicates more dimensional (elastic) deflection with a given load and geometry than its counterpart. Steel is twice as stiff as Titanium... You will notice titanium or aluminum revolvers use steel in strategic places to prevent such deflection from causing problems. Again, were talking about stiffness Before ductile yielding occurs.
I'm not saying this receiver will perform worse or better, chances are there are Steel Inclusions or geometric Changes over a original receiver to account for the changes in properties.
You are covering quite a few material properties that are Not always related to each other. Toughness, Yield Strength, Work Hardening, Modulas of Elasticity, and finally Coefficient of Thermal expansion.