A someone who deals with data often from big named organisations who provide little or no metadata I have found the geoprocessing history log valuable for working out how the data was constructed. I'm constantly amazed by people giving out data with no explanation about how it was built and what those fields actually represent. In these cases I often have nothing more than the geoprocessing history to go by because the originator of the dataset does not actually work at the organisation anymore.
I urge you not to delete such vital information! Who cares what your data path is, it's not as if people can get access to it. In fact it's very useful, you may get run over by a bus and someone who is trying to understand your data can go back to your organization and say "..well actually the intermediate step was created and stored here, it says that in your data!"