Is there a feature in mercurial similar to subversion's propset command?
What I really want is info about each file indicating whether it has code reviewed and QA'd. When a product is released every file in the tip will have these attributes/properties set.
There is not. Commits in mercurial are indelible, so no command can go back and alter them. Properties would have to be stored in separate meta-data file(s) which would also be version tracked (sort of like the .hgtags file). One could build an extension to do that but every property alteration would put another changeset in your history.