Basically, yes. The .0047 will "bleed" twice as much treble, the .001, half as much. The degree to which those "mods" are desirable will depend on your setup. Let us know how it works out.
Quick sidenote: This is the opposite affect of a tone control cap. The .0047 would "dump" more treble, while the .001 would discard less.
Well I play a LP and for me it was 100pf for a transparent rolloff. You could go with 220pf for a bit more twang added when rolling off the volume, assuming you're using overdrive.