What is the current attitude of Kabbalists towards Raziel Hamalach?
Is it considered a legitimate work of Kabbala? Is it studied? If not, why not?
I saw that the Rosh Yeshiva of Kise Rachamim in Jerusalem Rabbi Meir Mazuz wrote that it is't considered a legitimate book and one who have it should put it in Gniza.
(The book is ארים ניסי on Yevamot page שסב)
Rabbi Nachman of Breslov said (as recorded in Chayei Moharan): (לה) אָמַר סֵפֶר רָזִיאֵל אֵינוֹ מֵאָדָם הָרִאשׁוֹן וְלֹא זֶהוּ הַסֵּפֶר שֶׁנָּתַן הַמַּלְאָךְ לְאָדָם הָרִאשׁוֹן וְאֵין בּוֹ כֹּחַ לְהַצִּיל מִשְּרֵפָה, וּכְבָר אֵרַע שֶׁהַסֵּפֶר בְּעַצְמוֹ נִשְֹרַף וְהֶאֱרִיךְ בָּזֶה בִּרְאָיוֹת בְּרוּרוֹת: (ספר חיי מוהר"ן, אות תעח)
Hope it helps...
I have heard from teachers of kabbalah that the book in its current form is either incomplete or the pages have been intentionally mis-ordered in order to prevent it from being properly understood.
I am not aware of any of the major schools of Kabbalah which study it (books related to practical kabbalah are studied less frequently in general)