Hi Votorx,
The answer to your question depends, unfortunately, on the details. If you imagine a situation where person A is massive while person B is essentially massless then the answer is, of course, no. Don't laugh at me though, massless people are an important idealization in the theory. Let me explain why. In this case we would call person B a "test particle", and the role of a test particle is always to sample the gravitational field produced by another system without influencing the field. The test particle, person B, could move in a circle around person A due to the curved spacetime set up by person A, but person B doesn't effect the field created by person A in this situation. Also, strictly speaking the true effects of gravity are only observable in the separation of two nearby test particles initially moving parallel to one another.
On the other hand, if person A and person B are both massive objects then the story is more complicated. Whether the system is spinning or not becomes very important. We might again imagine that A and B are gravitationally bound to each other, but now that gravitational binding can itself "produce more gravity". In ordinary situations this extra bit is negligible, but sometimes it can matter a lot. For example, a spinning black hole is very different from a stationary black hole. Back to your case of two massive objects orbiting each other, one of the most famous effects is the emission of gravitational radiation. These gravitational waves carry energy away from the system, and the period of the motion can actually decrease. This decrease has actually been observed precisely as predicted by Einstein's theory.
Hope this helps.