You can edit the exif data out of the template if you don't wish to display it, and indeed you can also edit the information tab out completely if you wanted.
One of the custom field locations will display the custom field values below "Information" in the Information tab.
well, the "EXIF"-data is probably important if you run a photographers-community. So people who find this information useful.
But for example if you run a "Product Catalog" (or a Classifieds-system, etc.), you would want to have certain "Custom Fields" which are describing the "product" which you see in the picture.