Ok, so Oracle is doing "a CentOS".
Oracle is taking the Redhat Enterprise Linux source code, removing all the trademarks, logos and references to Redhat and recompiling it with the Unbreakable Linux label. If there are any bugs found and redhat don't fix them fast enough (at all?) Oracle will take care of that and guarantee all bugs will be fixed and backported to all versions of Unbreakable Linux.
Sounds pretty good to me, especially when you look at the support cost model.
The basic support contract "network level" gives you access to patches via Oracles up2date equivalent. And the cost is a mear $99 per year per system.
If you want enterprise support you get that for a couple of hundred more.
If you want premium support you get that for about $1399 per year, you can't even get that support level from Redhat.
The full support policy can be found here.
And... even better... support contract are 50% off for the first few months (although I still haven't found where you can actually buy them).
Read more. Take a few minutes (about 60) to watch Larrys keynote, quite interesting.
Download ISO images, free for all.