To be exact about it, peak shape carries as much information as peak area does, and a badly tailing peak or a shouldered peak is telling you something about the sample or the column that matters.
Acetonitrile is the organic modifier of choice because it has a good UV cutoff, a reasonable viscosity and a refractive index that minimises baseline noise.
The underlying point is that detector linearity is why a heavily loaded peak can give false purity by compressing the main peak height while leaving impurity shoulders unchanged.
The resolving power of a separation is quantified by the resolution parameter R, defined from the heights and widths of adjacent peaks, and pharmacopoeial methods typically demand R greater than 1.5 for a method to be considered validated.
The caveat is that HPLC is a purity technique and says almost nothing about whether the main peak is actually your target compound — that is why identity confirmation from mass spectrometry or peptide mapping matters.
Ask for the chromatogram and the system suitability data, not just the number.