Yes Yes and No.
Depends on GPSr make and model - try setup\tracks\record method - on my OR300 the options are: by distance, or by time, or auto(maticly) determined by software in GPSr. There is also setup\tracks\interval with the options depending on the record method.
On my 76csx its mainmenu\tracks\setup\record method with distance, time, and auto options and an interval 'box' with options depending on the record method.
How many points to record depends on your personal preferences and the trail geometry. I would expect that your 170 points, or an average of 332 feet between points is too wide. Whereas, 2282 points, or an average of 25 feet between points may be optimal for that trail. A trail with switchbacks every 200 or 300 feet would not be shown too well with points 330 feet apart. However, remember that ever reading has some amount of error; think of one component back and forth along the trail, another from side to side, and a third up and down. With lots of points, each with some error, a track with very closely spaced points could show a total trail distance much greater than the actual trail distance, perhaps even twice as long. There is no one optimal setting which would be best for all conditions. Most track logs can be improved with some planning and post hike editing.
Which track looks better to you 170 points or 2282 points?