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Can a Crystal Report contain an OLAP grid sourced from an OLAP data source and additional data sourced from a separate relational data source in the same report?

Yes Crystal Reports can present both OLAP-sourced data and relationally sourced data within the same Crystal Report. To accomplish this, create your original report based on the desired relational database and then subsequently insert an OLAP grid to the desired place in your report.

Are the new and advanced OLAP features in Crystal Reports intended to replace the need for a separate OLAP Analysis tool?

No Crystal Reports is an advanced and powerful reporting tool that meets the business intelligence requirements of most business users in an organization. Advanced analysis tools, such as Crystal Analysis Professional, are more appropriate for those employees in an organization that require advanced analytics. The advanced OLAP features in Crystal Reports are designed to enable Crystal Report designers to provide meaningful and professionally formatted reports to their business users not fully interactive analytic tools. Crystal Analysis Professional adds greater interactivity for business users and more flexible integration with market-leading OLAP data sources for report designers.