The galvanized pipe under the floor may be OK for the toilet supply. Even if it is somewhat corroded inside, it will still provide ample water to refill a low flow toilet quickly. My reference was for the exposed pipe. I wouldn't even use copper exposed. Ideally, the water supply is located in the back wall 8" off center. This may not be a practical alternative for you; it wasn't for me either. Other that having something to clean around, there's really no problem with the pipe coming out of the floor like yours. Not knowing what kind of access you have to the plumbing under the floor, I can't really say what you will need to do. Certainly getting rid of all the galvanized pipes in the house would be wise, but it is expensive even if the is open access below.