Does a version 1 UUID disclose the server address?
Yes, the last 12 hexadecimal digits are the address of the node that created the identifier, usually the MAC address of a network card. The standard allows a random value there, but by default the real address goes in. Worth keeping in mind when identifiers travel outside: version 4 carries nothing of the sort.
Can I read the creation time out of a version 1 UUID?
Yes. The timestamp takes 60 bits and counts 100-nanosecond intervals since 15 October 1582, the date the Gregorian calendar was introduced. The moment of creation is recovered to better than a microsecond, which makes version 1 a poor fit for public links.
What should replace version 1 in a new project?
Version 7 if you need ordering by time, version 4 if you do not. Version 6 sits in between: it keeps the fields of version 1 but reorders them for sorting, and it is meant for systems that already hold version 1 identifiers.