Only if you tell apache to parse files ending in .html. If you want to add some php to your low profile page, and you have php available to you but it would be a pain to change the navigation to point everything to whateverfile.php, just find the following line in httpd.conf:
AddType application/x-httpd-php .php
and add .html to it.
AddType application/x-httpd-php .php .html
note that it will NOT break existing html files, and your server may run a bit slower because it is trying to parse every single html file being requested, but on a low traffic site it should be negligable.
Hope that helps!
Chris King