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Absolutely - although 3.0.1/3.0.3 were really not that good, but 3.1.1 is really a big step forward. I actually like the way Oracle has organized the GUI. e.g. being able to look at all VMs at once.
The onyl thing missing from 2.x.x is the lack of user policies, since there aren't any reasonable ones in 3.x.
Other than that, I am reall happy with 3.1.1
My name is Ronen Kofman and I am Director of Product Management for Oracle VM. I am really sorry to see you have had a bad experience with Oracle VM 3. We are making very significant effort to meet our customers needs and assure good experience with Oracle VM. Since the launch of Oracle VM 3.0 on August '11 we have released 3 more revisions which included more functionality, bug fixes and enhancements based on feedback from customers. Please feel free to contact me directly and we can discuss the difficulties you have seen and what would be a good way to address them as well as listen to suggestions you have about how to improve the product.
Ronen Kofman | Director of Product Management, Oracle VM
Oracle Corporate Architecture Group
500 Oracle Parkway | Redwood Shores, CA 94065