When Oracle launches an "ECM" offering you have to take note, although the company has a history of talking more about content management than delivering. Code-named "Tsunami" and billed as "SharePoint on steroids," Oracle's new ECM initiative was carefully leaked to the press in an attempt to create some advance buzz. Now part of Oracle Collaboration, the ECM offering represents an attempt to deliver basic document and records management from the top down, rather than SharePoint's bottom up approach. Oracle seats will surely get purchased centrally in enterprises grasping for some sort of RM solution, but seats do not mean mass adoption. The key to SharePoint's viral success lies in its simple DM facilities for departments, whereas Oracle applications typically require serious developer resources to get running properly. Incidentally, like IBM, Oracle's Web content management facilities presently reside within its Portal group, in a different world from the Collaboration product line. Shall the twain ever meet...?
Nice summary of Oracle ECM
(from sadly soon-to-be defunct Transform Magazine)