Yes, since we are only doing 32bit stuff right now, knowing the cpu is fine. But forward thinking that same processor can run in 32 or 64 bit, in which case you need more than the processor type.
For now, Yes, just moving the rpi4 kernel modules to the armv7 directory will work just fine. Outside of the kernel module extensions, all the tcz binaries are compatible with all boards, compiler is set to give code for an armv6. I've never seen any real improvement in applications where I tried to enable optimizations for the rpi4.