More info here from the US Copyright office - choice quote: "For good faith users, orphan works are a frustration, a liability risk, and a major cause of gridlock in the digital marketplace." http://www.copyright.gov/orphan/
Also, the UK has effectively given everyone the green light to steal photos lacking metadata because it's basically too difficult to find the photographer. http://www.bbc.co.uk/news/technology-22337406
And from my perspective, I release many images CCO Public Domain with my email or name in the metadata, and I'm annoyed that this metadata is not preserved because it means people may be reluctant to re-use my images due to (non-existent) copyright concerns.
Of course, if you are distributing the image URL directly, it is useful in that case..