Standby db vs Replication

We are running Oracle 8.1.7 on Solaris in Production. We have a business resumption server (same DB and OS) that we will use to back up our database. This will only be used as a backup due to licensing restrictions. The Production server is in Minnesota while the resumption server is in Arizona. Now, we would also like to create a reporting/query database, but that would end up on the same box as Production due to the licensing requirements again. Management does not want to pay the extra fees for additional licenses, our original recommendation was to use the business resumption servers as reporting servers as well. They will not do this.
So, the options they seem to like initially are replication or stand-by database, for both the resumption and reporting databases. Has anybody done any analysis on the two? I am looking for people's experiences, general thoughts, possibly some data on what is required for the two options (time commitment, cost, etc) so we can make a good decision. Or are other alternatives better? Any info is appreciated! Thanks!

Thomas...
As i see u have two business objectives in place. Business resumption. and secondly Reporting. Is replication an H/A solution? It can be argued either way but in my opinion replication is not a good business resumption solution. Replication is suited best for distributed computing. Standby is a good H/A solution but bd will be in the recover mode.
I would like to sujjest u look at SHAREPLEX solution. It does a log bases replication and db is open during the process. It might be the best solution in your case.
This is justmy 1 cent opinion...

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