Practical consequences of $Parity \notin AC^0$
I am not an electrical engineer, but search for online patents regarding switching circuits for parity gates, and all proposals (I found patents only until the end of the 1970s) discuss the size-versus-depth problem. All three patents I have looked at propose solutions of logarithmic depth, based on fanin-2 gates. So the answer to your first question is possibly "no".

J.J. Moyer: Parity Check Switching Circuit, United States Patent US3011073, 1961

A.F. Bulver et al.: NAND Gate realization of the n-input parity function, United States Patent US3718904, 1973

P.J. Baun, Jr.: Parity Circuits, United States Patent US4251884, 1981