Yes, you can have different configurations. When used as root, only the system config file is used but it still allows configuration by mount point.
From the help:
kernel_fs fuse proxy foo.bar:8080 use_displayname 0 [/media/dav] use_displayname 1 [/home/otto/mywebspace] use_locks 0 However, I'm not sure you can entirely disable the cache. I think that it always caches open files no matter what you set it to.