I think JK has spent way too much time building Draco up as a character (esp in book 6) to have him disappear in the last book. I think he clearly is going to play a role, and I really believe he is going to turn to the good. I think this for a few reasons: one is the bathroom scene in book 6 (where Harry found him crying and then hexed him). Why bother to humanize him like that if he is just going to be ignored later? And she made a point to mention that Harry felt sorry for Draco, both in that scene and in the scene where Dumbledore dies. JK is very skilled at foreshadowing, and I think this scene was very important. And Draco is now fleeing with Snape, who (despite all appearances to the contrary now) I still think is good. Snape will be an influence on Draco, especially now that Draco realizes just what service to the Dark Lord is all about.
Maybe I'm nuts, but I don't think Draco is going to die either. I think he could, but I don't think he will. I feel certain that none of the Trio will die (I think fans would just rebel against that, and JK probably knows it). But I agree with the above reviewer that it would be a poor lesson indeed, if Draco were to turn to the Light just to be killed off. As if mistakes can never be forgiven.
As for the last question, the real answer is,of course, no, but I can dream, can't I?