Displaying Exif Data From Digital Photos

Yes, you can do that. You can set 'View as' type of image field to 'Custom' and add your own code there that read EXIF data and display it on the page.
Check PHP Exif functions for more info:

http://www.php.net/manual/en/ref.exif.php
Specifically you looking for exif_read_data() function:

http://php.net/manual/en/function.exif-read-data.php