Linguist, can I suggest a ही in between /yah/ and /hai/ (ie, a यही)? I feel this will add some emphasis which will match the English translation more.
I can't quite put my finger on why, but I am not a fan of this translation. It just doesn't sound right...if I heard it spoken it wouldn't dawn on me that this is a direct copy of the English saying. Not to say that it's incorrect, but...you know what I mean?
Firstly, I definitely agree about the "yahii" suggestion - it gives it more emphasis like you said (To be or not to be, this is the question)Another thought.
/hotaa hai ya nahii.N hotaa hai, yahii hai savaal/
I think this might be a better translation. I feel that /hona/ in your example implies that "something is about to/might happen." How do you feel?
The literal translation to that would be "stay living or die".Anand: The Modern English-Hindi Dictionary:
To be or not to be? जीवित रहें या मर जायें? jiiivit raheM yaa mar jaayeM
My clumsy effort towards a 'literal' translation: 'may be living or may go dead'.