IBM has the benefit of a captive foundry, so they can produce unique technology for their microprocessors. Oracle doesn't have that advantage... but then, Larry Ellison is one of the few people who has a bank account as large as his ambitions, so maybe things could get interesting.
Hurd was actually quite a funny guy at the presentation yesterday, but you're right that funny does not a good businessman make.
Oracle is no slouch of a company though, and it seems to be taking its acquisition of Sun seriously,so it could yield some promising results.
Larry Ellison is a legend in his own mind.
Talk about someone with a god complex. If Mark Hurd does for Oracle what he did for HP, then I think Oracle will become even more irrelevent to modern technology.
Just my opinion.