No. Battery patch does several kernel-config calls, which override the use of this file shortly after boot. You will not be able to tune your kernel while running battery-patch, as the scripts repeatedly load different configurations as a routine part of it's operation.

Personally, after a great deal of analysis of battery-patch; I'm pretty convinced that if you load KP, and configure it properly, you will get as good or better battery savings. 99% of what the battery patch scripts do is load one of three tuned kernel profiles, based on the state of the device. I'm pretty convinced that can be boiled down to one single profile, based on your usage pattern, which will give better results with less mucking about.

On the upside, battery-patch has now been fixed in that removing the package does in fact appear to revert the system to it's pre-patched state (with the exception that you must re-default your kernel-config to personal settings if you had them previously). So there's less harm in trying it out, if you don't want to bother with tuning your own profile. Speed-patch OTOH still sometimes leaves remnant changes behind, at least in the last version I analyzed. As with any constantly updating app: in the next version all bets are off, especially since the author says the next version is a major re-write of what was being done before (again).

My advice: Uninstall anything with "patch" in the title and craft your own kernel profile. It will better suit what your usage pattern is, and has less issues in the long run when it comes to updates.