I am coming late to this conversation (new via beta testing)...
+1 for the ability to strip GPS data from the image (I would expect clearing/zeroing out the values, then clicking Apply would overwrite the GPS info on the original file, unless there is a separate "sync metadata to image" function).
But I have an additional question/request. I like to keep the GPS data with the original file for archival purposes but I would like the ability to selectively exclude GPS data from any variant images (e.g., another TIFF, a JPEG or HTML gallery). I don't see that option in either the Save Photo as... or Export... dialogs. Does that ability exist and I am just not seeing it?