No. There are only two options for selecting the output profile. Best match, which tries to find the profile that most closely matches the source file, and last used, which stores the last used profile for a given video format (i.e. MPEG-2, H.264 or YUV) and loads it whenever you save.
You could rearrange the profiles list and put the two you use most frequently next to each other so they appear one after the other in the drop down.