Short answer: no. It says this explicitly in the docs.
Longer answer: It might not matter. Calling ->save() on an object doesn't necessarily write anything to the DB. It only processes the actual update if something has changed.
But saving the relationship between two objects requires that both objects exist in the database. Also, transactions can help a lot, by allowing you to make 'temporary' saves that are atomically committed. Of course, your database needs to support transactions and handle them well.
Another option is to pass an array around with your functions, then save all the objects at once (see the section on saving relationships for more info.)
