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You are correct that that it no longer requires a license key file. And yes, the program works without any limitations. You can even download an unlimited license key file from the website you mentioned to make earlier versions operate in this same fashion. However, in order to download the software from EDelivery you must accept a 30 day trial agreement. Beyond that trial period, I suppose you would have to prove that you have a sufficient number of licenses if you were ever asked by Oracle.
This is my current understanding of the situation. I would love to hear from an Oracle rep about this if I am wrong in any way.
I marked your answer as 'Answered', yet I'd hope to hear from an Oracle employee.
If what you say is true, then a lot of people can use it without actually buying a license and Oracle will probably never know about it.
Said that, I just rechecked the website and I couldn't find a link to the download. I do remember for sure that it was available for downloading by public and that is how my friend downloaded it. Guess, Oracle just realized it and took it away !? Lol !