From the West Ham perspective, certainly. The NLD is just on a different level for Spurs and Arsenal.
Spurs-Chelsea has developed into a real hate fest as well between the clubs.
I've actually been to it, at the Emirates when I lived there. In the NLD I think the hate/rivalry is stronger on the Spurs side. Even though I don't like Spurs, I give their supporters credit, they are loud, rowdy, raucous, can be nasty etc, Arsenal supporters not so much. Spurs supporters are fun to have a go at because they can give as good as they get so the banter is great. Arsenal supporters, well ..........
WHU's biggest. most hated rival is Millwall, and that gets really nasty, but they rarely play anymore with them being in different divisions, so haven't met since 2012. So Hammers supporters have tended to focus more on Spurs. I've been to WH/Spurs both at Boleyn Ground and the old White Hart Lane and both times were great from an atmosphere perspective.
I think as far as atmosphere, WH/Spurs is fantastic regardless of where they play, Spurs/Arsenal is only a really good atmosphere when they've played at White Hart Lane (old and new).
Speaking of stadiums. I know why both needed new stadiums, call me old fashioned, but the the atmosphere's were better at Boleyn Ground and the old White Hart Lane, than both new stadiums, though both new ones are nice. At least there is a tube stop near WHL now, it used to suck to have to walk from Seven Sisters down to the ground.