Possibly. However, there are no plans to deprecate or remove it. Sleep safe :)
IMO, it's ready. People have different opinions here, though, and it depends on your use case. Definitely, both Widgets and Quick have their benefits, so it's best to pick whatever suits your project best. From my own experience, I'll say that QML and declarative mindset is the way to go. It's just so easy to build the UI this way :)
QtQuick1 uses QGraphicsView, QtQuick2 uses Scene Graph - both are available in Qt5. Again, this is up for a debate, but scene graph is rather potent in power :) Functionality of scenegraph and QGraphicsView does not fully overlap, so they can't really be objectively compared without going into specific details.
If your project will be used by other people, stick with Qt4 for a while, as Qt5 is still not in all repos.