They will not drop those tags as if someone uses an HTML 3.2 doctype a browser will HAVE to support it.
In HTML 4.0 and XHTML 1.0 Transitional they are deprecated which means you can still use them, they just might not be there in the future versions.
They don't exist in XHTML 1.1 as it's very strict but you can't suddenly make all browsers ONLY use XHTML 1.1, it would be suicide and break almost all sites on the web (you'd be amazed how many sites use those tags). In fact the W3C recommend using <em> and <strong> instead of <i> and <b>!!!
Give me a legitimate source for that information and I might believe you.
The definition of deprecated
from the W3C
A deprecated element or attribute is one that has been outdated by newer constructs. Deprecated elements are defined in the reference manual in appropriate locations, but are clearly marked as deprecated. Deprecated elements may become obsolete in future versions of HTML.
User agents should continue to support deprecated elements for reasons of backward compatibility.
The <font> tag is deprecated and thus by the W3C's own guidelines should still be supported for compatibility