It works in narrative, too.
A crude example: "He stared for a moment before he looked away" vs. "He wrenched his eyes away." Second only implies the staring part.
Exposition can lie in the adjectives and the verbs as easily as the nouns.
I finished The Fall of the Kings.
I feel much more confident about the smut content of The Stratford Man now.
I might quibble a bit with the ending: I wanted something a little less open, and perhaps the protagonists rendered slightly less disreputable and distanced--although I think I understand the authors' choices in that regard--and I felt the characterization of one of the major characters was extremely inconsistent. But that was one gorgeously crafted chunk of book. Now I have to reread Swordspoint, which I recall not overly liking my first time out of the box.