Is it possible to read information stored in these files (i.e. saved icon positions and such)?
Not directly. The .DS_Store files are written by a private Finder framework, I don't believe anyone has reverse engineered the file format or the framework.
You can, of course, discover most (but not all) of the information stored in the .DS_Store about window position, etc. by using the AppleEvent interface to the Finder using AppleScript or the OSA language of your choice.
Alex