It says here that outbound email is completely deprecated. Is there any alternate solution that is offered instead. We have a new client that is interested in mailing and distribution, tracking. Can we expect this soon or is there a workaround.
As per my knowledge there is no such community free version is available - but you may think of integrating with many paid third party options like - Pardot, Salesforce etc.
On the other side, the deprecated means you can still use it in current release (Web 8) on Premise but it may get dropped from Next release - So you can still use it in Web 8, however definitely considering the future it is not recommended.
Moreover, if you are planning to have SDL Web Cloud, then deprecated actually mostly means dropped.