Wasps are actually quite different from bees, both in their feeding habits and their behaviour towards humans (or animals). They do eat rotten fruit etc and are quite useful. However if a nest is near regular human traffic I would remove it, as they are quite aggressive when you get close it. Not sure if moving a nest works, as they might have the same way of finding their way home as bees have, and therefore you would have to move them at night when they are all in and outwith their normal flying radius (not sure what that it, but probably a couple of miles). Someone else might know.
Also when you are stung by a wasp, dash inside, cut an onion in half and rub onto sting, Reduces swelling and calms it down a bit. I have been stung by wasps (and bees) quite a few times, but so far lived to tell the tale, it's not that bad.
We had (unbeknown to us) a nest last year in our makeshift firechamber for the smoking set-up, and right next to it I stored the vegtable/fruit stuff we get from the greengrocer for the pigs. Got stung a few times, as putting my hand into the bucket was not safe... We did however not find the nest until well into winter, and so wasps had a good year!