Hi Ola,
The answer seems to be yes re exif and photoshop'd files. At least for files that are just fixed with cropping, adjustments to levels, etc - not sure what would happen once you start combining files into your own creations. And a plug for the new photoshop - it's well worth the upgrade to CS if you have a digital camera as there are a ton of enhancements including RAW support, 16 bit throughout (almost) new photo filters and, my favourite, sliders for adjusting shadows and levels.
