A121: Bracers of Armor are wondrous items, not magical armor, if you are looking for a specific rule on it. It's also covered in the General FAQ.
Being deaf alone wouldn't do it, but having immunity to Evil spells and effects or Sonic spells and effects would do it. Subtle distinction, but an important one.
Edit: Alternatively, use Hank's Bow.
A 121: Considering the large number of monks in Wizards material that have Bracers of Armor as part of their equipment list I would guess no. I mean, they are bracers, not armor.
Being deaf helps, but being immune to evil spells would be better since you don't have that miss chance for spells with somatic components. But does sonic protection really stop Blasphemy? I mean, I have sonic protection 10, but that never seems to help against that.
As for the armour bracers, I always thought they did, but the DM says they don't (at least in his campaigns). That bracers give you an armour bonus, so therefore they don't stack, and you lose your WIS to AC and the AC bonus you get for not wearing armour. I asked him then why do monks wear bracers at all, and he said it's because the bracers get higher bonuses so they opt to switch one for the other. I didn't know how to answer him.
Q 122:Does the Transmuting property from Magic Item Compendium at a measly +2 enhancement really allow a weapon to overcome DR/epic? Also the entry mentions that "for the next 10 rounds..." you have its benefit. What happens after 10 rounds?[/quote]
Yes. Yes it does. Just like the +2 force ability it'll overcome it the round after you strike, and for 10 rounds after that. After 10 rounds it turns back to normal.
Q123:How can one find unlimited ammunition?
Are you referring to actual ammunition or arrows and bolts? There's a +2 ability that lets exotic weapon pistols become as unlimited as Dante's form DMC.