I am making the assumption that type1-logs, and type2-logs are two different sourcetypes you wish to exclude these events from. If its only one type of log, then you only need to include one such stanza.
To add some context to SEDCMD - this allows you to amend/replace text as the data is indexed, it won't allow you to 'drop' it.
This means that you could mark all the INFO/WARN lines as blank, but you're still going to index them and:
a.) This is almost certainly NOT what you want
b.) You will still be paying to index them (licence usage/disk etc)
By using props AND transforms, you prevent Splunk ever processing (indexing) events which contain these log levels, and I suspect this is what you really want.