The flavor imparted by the pork fat depends on where the fat originated from. If you're using belly fat, then yes, your food will pick up a flavor that has a strong bacon taste. Bacon comes from the belly portion of the pig, as does pork belly. Pork fat trimmed from the belly will have a flavor profile that resembles both of these cuts. Leaf lard has little to no flavor, and rendering removes what little flavor there is. The lack of flavor is what makes it perfect for use in certain types of pastries.