Good, if you buy Oracle's XENServer.
That's the only virtualization plattform I know of, where you do not get in this license trouble. Either you buy a license for every CPU where Oracle might run on in a farm or you user per user licensing.
Moved to the Oracle on VMware forum
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For Oracle support call, try not to mention it with VMware usage otherwise they will point fingers can't find knowledgebase for it blah blah...but if you have good VMware Technical Account Manager, they would have better access to Oracle support folks.
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Regards,
Stefan Nguyen
VMware vExpert 2009
iGeek Systems Inc.
VMware, Citrix, Microsoft Consultant
I know things have changed in the past couple of years but when i ran a virtualized Oracle environment we did not have any issues with Oracle support.
www.phdvirtual.com, makers of esXpress