Although I wasn't thinking about it from a QM perspective, this same thought struck me just over a month ago as I was trying to think about action in general and get more of an intuition of it as a physical quantity!
secur said:
Surely there is a deep connection, and it's action. I think.
Yes I felt there seemed to be a very deep connection indeed and it is no coincidence.. I even wondered whether there was some way pre Lorentz-Minkowski-Einstein of anticipating the geometry of spacetime and formulating special relativity via a variational principle of the type: requiring the invariance of the differential one form of the action $$dS = \sum_{i=1}^n\left(p_idq_i - Hdt\right)$$
under certain point transformations in extended phase space of ##(2n + 2)## dimensions, where time is placed on the same level as the coordinates and varied as such, in other words taken to be a dynamical variable and obtain Lorentz invariant solution trajectories for the ##q_i## and ##q_t\equiv q_{n+1}## in terms of a unspecified parameter, via some form of constraint condition out of which generators of Lorentz Transformations could be shown to magically emerge :p and combine with the generating function of infinitesimal canonical transformations! But "real" work got in the way I guess.. :p, and the idea seemed obviously too vague in my own mind. But in any case this emerged from thinking about what the differential form of the action represented physically, which I feel may contribute to this discussion. See many of us think of the action as a ##\textit{functional}## to be used in order to obtain the equations of motion and consider it as such, often not appreciating that ##S(q,t)## can be expressed as a ##\textit{function}## along solution trajectories, taking on a physical meaning of a measure of how much flow has been carried over space and time (not absolute, but relative: it's ##dS(q,t)## that is unique along solution trajectories. What do I mean by flow..? Well, in classical field theory, a conserved linear/angular momentum of a field (Noether current) results from specific configurations which follow from the form of the mutual interactions between the field degrees of freedom and represents linear/circulating flow of energy in the field. In quantum theory, momentum serves as the generator of space translations and we have the same principle taking place here, where momentum density is the description of energy density being translated through space, a steady flow of energy. The differential form of the action ##dS## from above, to me seems to be a measuring how much energy flow is being carried through space ##(pdq)##. Complementing this flow of energy in space, or , we have the notion of a Hamiltonian serving as a generator of time translations in QM. From the invariance of the action functional under Lorentz transformations Relativistic field theory is clearly saying that a contribution in the differential of the action over parametric curves in space time, must enter, corresponding to a measure of energy flow which is being carried over time. However, the differential form appearing above by virtue of the ##-Hdt## term, does have the required difference in sign but yet at first sight seems to be appearing on a somewhat different footing than its spatial counterpart, given that ##H## represents the total energy and not a flow of energy and more fundamentally that time plays the role of the independent variable for the generalised coordinates.
I have presented things in this fashion as this was the thought process I went through, but it is in fact the following part which is at the heart of it all and seems to reveal a rich structure where the invariant differential 1-form ##dS## with its relativistic counterpart. It was either Jacobi or Lagrange (or both) who realized that if you considered time as a mechanical variable taking part in the variation process, the single particle configuration space becomes 4-dimensional. So in extended phase space, the action functional in parametric form for n +1 mechanical degrees of freedom reads: $$ S = \int_{\lambda_1}^{\lambda_2}d\lambda L\left(q_1,\cdots,q_n,q_{n+1},\frac{q_1'}{q'_{n+1}},\cdots, \frac{q'_n}{q'_{n+1}}\right)q'_{n+1}$$
where ##q_{n+1}\equiv q_t\equiv t## and prime denotes total derivative with respect to this as of yet unspecified parameter. if you now consider the momentum associated with time: $$p_{n+1}\equiv p_t = \frac {\partial \left(Lq'_{n+1}\right)}{\partial q'_{n+1}}$$ you find that it comes out as negative the Legendre transform of the Lagrangian ##L## with respect to the ##\dot{q}_i##, in other words ##-H##.