Is this production ready?

Are you familiar with patches? You could apply patches from issues that need review on a local Drupal instance, and then report your findings, in order to help get the module out of "alpha" status.

You can start by looking in the issue queue for bug reports that need review. You may want to first focus on bug reports with a "major" priority status.

But yes, people are using this module in production environments; depends on how much functionality you need for your project. Sometimes with Drupal, you even have to use the "dev" version of modules.

And you have to be patient; basically, the maintainers aren't getting paid for their work...

I agree with byronveale. It depends on your needs if Feeds is production ready for you. Some features in Feeds just don't work correctly yet, but you may not need these features for your project.

A few examples:

• Feeds isn't ready for importing multilingual content, see #1183440: Multilingual Feeds - Make field import language-aware
• PHP may get out of memory when doing very large imports, see #1029102: Importing Large CSV document (downloaded and processed in the background) and #1363088: Feeds batch process not fully implemented - needed for large imports
• Empty values in source are ignored for most fields, see #1107522: Framework for expected behavior when importing empty/blank values + text field fix
• Not every field can be used as an unique target, see #661606: Support unique targets in mappers
• You may miss some field mappers, see #700476: Mapper for Book module (D7), #1228062: Feeds integration. and #962912: Mapping to node summary