Using nanotechnology I can see a “matter replicator” being possible, but it’ll be much slower than Star Trek’s. I see a semi-plausible future replicator as using nanotech to build the microscopic scale stuff, and something like a 3-D printing process to assemble the nanomachined components on a larger scale quickly. How fast such a process would be I don’t know, but I doubt it would be just a few seconds Star Trek style. As we see in living things, building stuff on a molecular level produces a fair amount of heat, which will limit manufacturing speed; I expect one major limit on speed will be how much molecular scale precision is necessary for the product. Most of the time, I’d expect them to only act as semi-replicators; you don’t really need your new entertainment center to have a plastic housing with identical molecular structure to everyone else’s.
So, what I see is a future where you’ll have an economy/manufacturing with one segment for things that people are willing to wait for the replicators to grow/build what they want, and another where other methods are used for quick manufacture. You might buy the slow-to-make parts premade, stick them in your replcator, and it’ll build the rest in a few minutes. Food comes to mind as another example; I want my spaghetti dinner TODAY, not in a week or month. Picard didn’t have to wait very long for his Earl Grey, or he’d have brewed it instead of replicating it.
Atoms are really too large for quantum uncertainty to make duplication a problem. Cells work with atomic and molecular scale objects all the time, and do build duplicate after duplicate molecule, which is proof it can be done ( Yes, they don’t build things that are exact duplicates on a larger scale, but that’s not a problem involving quantum uncertainty ). And, they do so with a low energy budget. What they don’t do is do it fast; if nothing else, I’d expect waste heat to be the biggest limiting factor.
As far as social effects go, I don’t buy the idea that it would destroy society; I especially don’t buy the Gizmo slave society idea. First, there’s little incentive, since there’s far less for slaves to do. Second, and more importantly, because the slaves would be uncontrollable by a few guys with guns, in a society where one escaped slave with a rifle, a sandwich, and a stolen Gizmo can equip a guerrilla force against the slavers. An army can beat a guerilla force, but not a few guys lording it over slaves because they have guns and the slaves don’t. And what would the slavers pay their overseers with that they can’t get themselves ? Slavery on any scale beyond one master and one or two slaves requires a system of oppression to make it hold together.
More likely, I see an economy that’s materially a lot like the Internet. Lots of stuff, sometimes of questionable quality, that can be copied for free or cheaply. Other things that take more money ( or with replicators, time ). And, there’s be a base cost in resources for everything; you need a computer, an ISP, and electricity for the Internet; you’ll need electricity, raw materials and templates for your replicator.