Yes, but these only affect _all_ bgp neighbors.
I have several other peers on regular low-latency circuits which would
be affected by this. I can't seem to find the way to adjust this on
a per neighbor basis.
bgp will negotiate/agree on a holdtime interval for each peer when the session
is being established (lowest holdtime wins, i believe). if these two routers
are the only bgp speakers with the specified interval, then that session will
be the only one to use the value.
with cisco's current implementation, the specified keepalive interval will be
used for all peers on the router. i don't believe there's a way to define the
keepalive interval on a per-peer basis.