No. It will cut the high freq response. Remember the more NFB the lower the gain, and when you have MORE HF NFB you have less gain at HF. THe lower freq gain isn't affected (although with a straight R/C circuit it's gonna fall off at a linear rate)
73 John
Ok John, in afterthought I guess I should have worded my response a little better. I really meant to say, that in using a smaller cap in the feed-back loop,would in effect appear to give the modulator more low end by limiting the high end response. Thanks so much John for your input into this discussion. It's very interesting to say the least!