This might sound like a stupid question, but google didn't help me.
Is there a JRE available for Android? If so which version is it? Are there any major features missing?
If not does that mean all java apps need to be recompiled for Dalvik to work on the Android?
Update; Will there ever be JRE available for the Android?
No, there is not. Google did create a completely different runtime for Android, where the base classes are completely different ( albeit compatible )
It uses Java as the language ( syntax ) but not the Java platform.
You can learn about the Android platform here.
From that page:
Android includes a set of core libraries that provides most of the functionality available in the core libraries of the Java programming language.
Read in bold "most".
So, although they look similar, they are not the same.