If ArcGIS Geodatabase is the standard data store for GIS data, but business IT wants to make use of an Oracle Spatial/Mapviewer environment, what is the best practices recommended approach for interfacing between the two data stores. (perhaps this is an Oracle Spatial question, but tools exist here as well.)
Yes, This question is more suited for the Oracle Spatial Forum.
And about the question, you must use Esri's owns products like ArcCatalog or Arcmap to connect to oracle and change the format of your geometries. Arcgis is capable of storing geometrical data in oracle in SDO_Geometry format.
If you have question about the procedure of this action, don't hesitate to ask.
ArcGIS (ArcSDE) supports sdo_geometry. So the simplest is to do what Farid suggested. Use ArcGIS/ArcCatalog to convert, store, and use sdo_geometry (with no change to the apps) as the storage format.
If you'll want to convert and keep a copy you can use a spatial ETL tool like FME (from Safe Software).