FTR, no and yes.
The last version of HTML (which the W3C has declared WILL be the last version of HTML: see below), version 4.01, lists the
iframe element with no notes about deprecation. But then again, that was five years ago.
Since that time, however, HTML has been reformulated as an instance of XML (the generic web content markup language, where you can make up your own tag names) called XHTML 1.0. XHTML is now the “official” HTML, and all future advances to the language will be made here.
Furthermore, it was agreed amongst the powers that be that having each browser support a hodgepodge of tags and attributes was not a good thing, so XHTML was broken up into sets of related tags and attributes called modules. This way, a future browser manufacturer will state that their product supports modules X, Y and Z, and the public (who, of course has been spending their precious free time keeping up with all of this) will know the browser’s capabilities, because they’re not supposed to say they support a module if they don’t support all its tags and attributes.
That done, XHTML was (and from now on, will be) re-published with modules in mind, as XHTML 1.1. Along the way, styling elements and attributes are being left by the side of the road, their functions being picked up by the styling languages CSS and XSLT.
So far, no worries, as IFRAMES have been included all down the line.
HOWEVER, the in-progress XHTML 2.0 makes no mention of frames. Whither frames? They are being addressed in ANOTHER recommendation in progress, XFrames, which seems to be languishing, perhaps due to the fact that frames are falling out of favor with many web designers. At a cursory glance, however, it doesn’t seem to mention Iframes either.
So it looks as though Iframes may eventually be headed for the trash-heap.