I believe that the exchange between Vito and Michael was definately an important scene.
>>>DON CORLEONE then lifts
his hand, and slowly touches a particular medal on MICHAEL's
uniform.
DON CORLEONE :What was this for?
MICHAEL : For bravery.
DON CORLEONE : And this?
MICHAEL : For killing a man.
DON CORLEONE : What miracles you do for strangers.
MICHAEL : I fought for my country. It was my
choice.
DON CORLEONE : And now, what do you choose to do?
MICHAEL : I'm going to finish school.
DON CORLEONE : Good. When you are finished, come
and talk to me. I have hopes for you.<<
As for the Genco part of that scene, I think that FFC was trying to show how powerful and dependable The Don had become as Genco asked him to defeat death on his behalf.
Don Cardi