In today’s world of Web 2.0, is it still acceptable to use iFrames (Inline Frames) in web design?

Specifically for parts of websites that are consistent in every page (such as a banner that has news info and stuff), and needs to be updated often, is it still o.k. to use iframes? Or are iframes almost obsolete and pointless in the world of Web 2.0?

Is the use of frames in HTML considered obsolete for today’s web design?

As the web moves to Web 2.0, is the use of frames inappropriate for modern web design?