Oracle says about its new product:
Oracle VM installs directly on server hardware and does not require a host operating system. Two systems with static IP addresses are needed to install Oracle VM; one to install Oracle VM Server and one to install Oracle VM Manager.
For hardware virtualized (unmodified) guest operating systems (for example Microsoft Windows), a CPU with hardware virtualization support is required. This includes some Intel Pentium D, Core, Core2 and Xeon models, and some AMD Athlon and Opteron models.
Oracle Enterprise Linux 4 and 5;
REL3, RHEL4 and RHEL5;
Windows 2003, Windows Server 2003 and Windows XP are supported on Hardware Virtualized (HV) capable hardware;
I think for Oracle Partners this is a very nice tool to test and run different Oracle products on one machine to reduce the hardware cost. Let's see if they will add support for SUSE, SLES, Debian and Solaris x86...