No because it all those possesion won't be in Habsburg hands but in Wettin hands. Plus it isn't August the Strong, king of Poland, which will inheriate the Habsburg possesions but his son.
But Poland aren't the big deal here, the fact that Saxony are going to join with Habsburg possesion are the big deal. It's going to create a enourmous strong block under the Wettin Emperor. Saxony was among the richest and biggest German states at the time. Poland on the other hand will likely stay under the Wettins until Frederick Augustus I dies in 1733 after which we see a Polish succesion war, mostly because the Magnates elect a non-Wettin king out of fear that the Wettin centralise the state under their rule. Likely what we see are a early 1st Partition of Poland, through maybe with some alternative borders. Prussia will likely take Royal Prussia, while Russia will likely take what they got in the 1st partition in OTL, Galicia will likely stay Polish, through Saxony may receive it as kompensation for the loss of the Polish throne. Sweden may also receive something (maybe Courland and westen Polish Livonia) While the rest of Poland get "independence" from Saxony and de facto end up as a Russian vassal.
The interesting thing which will follow are how the Wettins dynasty adminstrate their new possesions, as Susano like to tell us in OTL they seemed rather incompetent through the 18th century. I would say they may do better, first they have the de facto almost absolut rule over their Austrian, Bohemian and Netherlandic possesion, their religeous tolerance will serve them well in Austria, Hungary, Bohemia and Silesia, likely the ease away from the Habsburg arch-Catholism will serve them well in creating a strong power base there.