Eh... physically, sure. But running the ball as RB is a little different than running it as a QB. I think Hill is better used in the 11-man run game... if you line him up as a RB and handing the ball to him in inside zone, you're kind of giving away the game. There are definitely better options.
I could see him getitng situational carries or specially designed plays (or, say, dive or trap touches as an H-back/fullback). But I wouldn't slot him in as a regular rotational tailback.