I would venture to say yes, Longstreet's idea of picking the ground of their own choosing would've resulted in another Fredricksburg. Either by taking a route further south or by agreeing to Gen. Hood's request of flanking the round tops and attacking the artillery park and supply train from the rear, would've won the battle for the Confederates.
Going against entrenched positions with massed artillery over a clear field of fire on July 3rd was totally a blunder on Lee's part.
I don't think the war would've lasted longer after a Confederate victory, the North most likely would've sued for peace or the European capitals may have weighed in on the southern cause.
Nice to be arm chair generals over a 100 years later....