Java 3D is not "going away" -- Sun has to continue to support it, especially because there are quite a few commercial applications using it for military, corporate, and academic projects as well as for games. Don't forget that it is still *the* "official" 3D scenegraph API for java, and 3D graphics is more than just games.
The 1.4 version is stalled, possibly indefinitely, but what is there right now is still very good, if what you need is a comprehensive scenegraph API and not just a low-level binding.
But I think there's going to be a lot of focus on the jogl and joal APIs for now, as well there should be, as well as the new mobile 3D API, which is going to take away some steam behind Java3D.
Obviously there's plenty of consternation among us (myself included!!) about the future of Java3D. Personally, I've already invested several hundreds of hours and tens of thousands of dollars in our game-in-progress, so I will be continuing to use Java3D as-is, as well as keeping an eye on possible replacements. And I'll be picking up a couple of OpenGL and OpenAL books
But if I was starting from scratch, and I needed a scenegraph API, then I would take a much closer look at OpenMind, and RenderWare, and other higher-level tools. I might still choose Java3D in the end, but it wouldn't be as easy a decision as it was originally.
Hopefully the guys at Sun can provide a clear roadmap real soon!
Just my $0.02