Yes. Ideally, there would be an option to set a default for the diagram, or even the package, using the same dialog as is available when right clicking an Association (Visibility, Set label visibility...)
Personally, I always want to turn off Source Top and Target Top, as they contain the key names, which can be huge long abstract identifiers. All I really want to see are Source Bottom, Target Bottom, and Middle Top, with the multiplicities and the fields involved in the relationship.
You can imagine, if I've reverse engineered a database with fifty tables, each with one or more relationships, there can be hours of work arranging the tables, recolouring them (easy), making sure that I can print without having a table split across a page break etc etc.
The one task that is impossible to do by selecting and dragging or making a single mouse click is this one! And when it comes to being about to show it to a non-technical client (or even a UI developer come to that), the least useful information and the most obscuring and confusing is the mess of key names.
Got it? This would be a huge help to get it fixed up.