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I also asked a similar question in the past, will there be a Designer 11g? Designer 11g?
Till now there is no replacement for designer. You can use subversion as a file based repository, but it is still not the same.
SDDM can export to a reporting repository in a database. This is intended to be read-only, but it is well documented so that you can write reports and other applications against it. Marc de Oliveira did a presentation at ODTUG K'Scope 11 showing some of the uses he has made of this. For instance, he uses it to generate and maintain lookup tables.
The active working repository for SDDM is a set of XML files, which can be source controlled in Subversion.
I've been doing something a little weird - I do logical design in SDDM, generate a relational design, generate the SQL DDL, then read the DDL into the database designer in JDeveloper to finish the physical database design. I do it this way because I far prefer JDeveloper's XML format for table definitions to SDDM's. I find JDev's XML files to be human readable, while SDDM's aren't. So I have confidence that my JDev designs will be usable even if Oracle does something unexpected, like abandon JDev for NetBeans.
Data Modeler can be used concurrently, but it's not easy to do
Since we have a limited number of users working concurrently on the same application we usually use locks to indicate concurrency, since merging changes is mostly not trivial.
Reporting can be done
there are even PDFs with the ER-Diagrams of the repository (sqldeveloper\extensions\oracle.datamodeler\reports\Reporting Schema diagrams).
Nevertheless I would prefer a real repository instead of a bunch of XML files.
I can imagine how difficult team working must be with Subversion and XML files (having used CVS with J2EE projects in the past).
Does anyone have a suggestion for functional hierarchies etc? The great thing with Designer was being able to link functions with entities, and produce matrix reports to check for completeness etc. Am I right in thinking that SDDM will never model functions, processes, or systems?
I never found functional hierarchies to be terribly useful, myself. JDeveloper can draw many of the UML diagram types, and you may find UML Use Case diagrams to be a good replacement for the functional hierarchy.