Can we use BCS component  in ECC 6.0, without installing BI 7.0?

We have a unique situation. We have planned to migrate from 4.6B to ECC 6.0. We have FI- LC and we want to move to SEM-BCS 6.0 in ECC 6.0, without installing separate BI (netweaver 2004s) instance. Is that possible? If possible, will there be any performance issues?  If we use BCS in ECC 6.0, does it eliminate the job of FS data extraction to BW-SEM?
Do we need a separate BI system, which can also include SEM-BCS? What are the advantages?
We look forward for advice.

We found that without installing BI 7.0, BCS component (with its own internal BI) is working in ECC 6.0. In earlier ECC 5.0 or R/3, such facility was not available.
My question is that "Is it good to use SEM-BCS with in ECC 6.0" or  "Is it better to have separate BI instance, which can include BCS" .  Either answer has to be supported with points. Appreciate any assistance.

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