is deep water running as good as running on land?

Doing it everyday wo not get you the benefits of running everyday. It is an adequate substitute if you can not run for a few days if you're injured or something, or if you're tapering off the week before a big meet. You really have to do it hard though, or else you're not going to get the same results as if you were running.

You can burn as many calories in the water as on land.
You must adjust the time it is not the same as running since you are not supporting your body weight.
But you can lose weight without breaking a sweat, except on your head.

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