No. As much as taking exams, and the stress of exams are certainley not 'fun', abolishing GCSEs would be wrong.
Why? Because at the end of the day, you need to have something to come out of school with to show what you can do in terms of academics. And in general, having something to show for, when coming out of school.
I know that a good proportion of people stay on and do A-Levels, but many don't too. There would just be no point in the education system, and people would have no motivation if there was not going to be any sort of official testing for it.
On the other hand, I think there should be wider options for GCSEs available in schools where it comes to the creative side of things! However, I do still think Maths, English, Science etc should be compulsory.