Can you select different configurations for your guys in co-op? I mean something like in CT were you chose assault or stealth or Recommended. Does anyone know?

Thanks

Nope, no selections for loadout. IIRC, each player also has a slightly different selection of gadgets but can easily 'share' an item by having it selected and then facing the partner. An action prompt should come up allowing you to give that item to the other player, I think.