Yes, the "first" entry in PRODUCT_COPY_FILES for a destination wins, and any others are ignored (and written to $OUT/product_copy_files_ignored.txt during `dist` builds, though you can explicitly ask for it to be built with `m` as well).
"first" can be a complicated topic with inherit-product however, so I'd recommend verifying your changes carefully. The order between local modifications to PRODUCT_* variables and inherit-product within a makefile doesn't matter -- inherit-product just saves a list of files to be included later, then combined into the inheritance tree.
- Dan