Use this tag for questions about the field API, how to use it, or which hooks are required to implement a field in a module; use "drupal-fields" for questions about fields implemented in modules you are using.
The field API implements only the part for creating fields that was part of the CCK module; it implements also the basic fields, but it doesn't implement all the fields that were part of CCK in Drupal 6.
The CCK module is still necessary for updating from Drupal 6 to Drupal 7, in a site that previously used CCK, and to use all the fields available in Drupal 6.