no. unlike the web world, which becomes distracted at every new concept or technology, windowing has stayed what it has for 20+ years for a reason.
"new things" on the web are hot items because they act more like the desktop, while desktop "windows" have acted the same way for years and don't suffer from the crappy/poor design that has plagued the web.
while WPF is hardware driven, I really don't see a need (nor can I see anyone having a business need other than "just wanting to") to use a new windowing technology.
WPF tries to take what sucked about web development and throw it into the already perfect world of desktop development, and I'm sure Microsoft's adoption of xaml was a decision made because they can re-use more infrastructure in the IDE (windows | web) if they both use the same layout / code behind concept, rather than having two beasts that do something similar but 2 different ways.

Whilst I wouldn't describe Windows Forms as deprecated, I think we are witnessing the beginning of an inevitable decline as MS start to focus more and more resources into the Windows Presentation Foundation (WPF) with its promise of even flashier UIs and some degree of desktop/web synergy.
We've already seen something similar with MFC which, whilst still supported to some extent, is not the dominant force it once was in professional desktop development.
However, these sort of changes don't happen overnight and it takes a long time for businesses to realize that their applications are perhaps not as snazzy as they once were and could do with a makeover. So, I think that new Windows forms applications will continue to be developed for the next few years and to be maintained for many years afterwards because switching to WPF requires a complete rewrite.
Chris Sells wrote a very good book on Windows forms programming and so I'd check out his <a target="_new" href="http://www.amazon.com/Programming-WPF-Chris-Sells/dp/0596510373/ref=pd_sim_b_2">Programming WPF book</a> to get a basic grasp of what it's all about.

Ok so WPF is basically some kind of fancy markup that allows you to create both desktop and web rich interface applications....

In essence, yes.
The UI is built using Extensible Application Markup Language (XAML) and the 'code behind' (written in C# or VB.Net) is used to program the UI events or business logic. So, the parallels with ASP.Net are obvious.
The underlying graphics API for WPF is DirectX, as opposed to GDI+ for Windows Forms.