To the OP. There is no chance that you have a "hazardous" leak based on your reported testing. When gas companies (or propane companies) do testing...that's what they are trying to determine.
Based on extensive pressure testing I've done over the years I've come to the conclusion that all threaded joints leak to some microscopic degree. Molocules of gas will escape over time. Even certain types of pipe (all plastics for example) will bleed through molocules of gas over time, right through the pipe wall. These leaks are not even detectable by any means you are likely to have at your disposal. So...I'm going to say I'm quite confident your gas line IS leaking, but this will not create a hazard for you.
A little more information I want to give everyone on pressure testing:
Don't test against a valve. They will leak through eventually. Test against a plug, cap, or blind flange.
Pressure testing is a strength test as well. That's why it is important to test at a higher pressure than the system will see in use. However, 70 PSI seems excessive for a propane system that will likely run at less than 14 inches w/c.
When "soap" testing, don't use soapy water. Use a commercially available leak testing solution. They are many times more effective than using some of your wife's dishwashing liquid mixed with water.
And here's one I learned the hard way that almost no one in the world knows about (except me and now YOU)...when you pressure test polyethylene pipe to high pressure with air NEVER vent the air after the test by throwing open the valve and letting the air rush out at high speed. If you do, you can generate high voltage potentials due to static electricity buildup in the pipewall that can cause microscopic sparks that are capable of pinholing the PE pipe. So...your pressure test was good...but you just created several pinholes, each a few microns in diameter, in your pipe when you let the air out. Instead, bleed off your air slowly through a partially cracked valve (that you just removed the plug from...because you never test against just a valve.) This will provide some protection against static buildup along the inner wall of the plastic pipe.
That last one was an expensive lesson to learn.
Phil