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The two are very different products.
WebCenter Portal is for Enterprise portals, where you want to ingrate content and information (as portlets or taskflows) from other systems, web services etc.
You can use WebCenter Portal: Spaces if you want to offer an environment within your portal where users can collaborate, form communities, work together etc.
Integration with Oracle WebCenter Content is a strong point of WebCenter Portal.
WebCenter Sites on the other hand is primarily for commercial, customer-facing web sites.
So it really depends on what your requirements are. Rapid development is nice, but you should make sure you use the right tool for the right job.
It really does drill down on your website requirements. It could be a combination of those products. First if you could be more specific which weblogic CMS, perhaps version etc, we could make a better recommendation.
But in general:
1. WebCenter Sites (prev. FatWire) for external-facing, experience-driven websites, Web Experience Management (WEM)
2. WebCenter Content (prev. Stellent UCM) for content-enabling web applications, think of ECM (Document Management/Record Management)
3. WebCenter Portal for enterprise portals & composite applications, for more transactional type of sites
Hope this helps.