Using data guard for migration pruposes.

Hi we are looking to consolidate a couple of databases onto a single server. One of the databases is our bi database which is currently running on a single server and it is running oracle 10.1.0.3 on suse linux 64 bit.
We also have an oracle 2 node cluster running on RHEL4 64 bit linux itanium. which is our sote database.
We are looking to create a physical standby server of the store database onto a new server and storage array and also we are looking to migrate the bi database over to the same server/storage platform and would like to use ASM as the storage option for both of the database once they are migrated and also replicated to the new server.
I guess my question is...can I run multiple different versions of oracle on the same server or is this just a bad idea? we know that we need to have the same version 10.2.0.3 for the physical standby server which is a different version than the bi datatabse so would it be better idea to upgrade the bi database to also be running 10.2.0.3 before we are to try and replicate it to the new hardware?
I hope this is not confusing,
Thx.

Lets start with what physical Data Guard standby is ... it is the creation of a row-for-row, block-for-block duplicate of a primary production database.
If the version are not identical that is impossible.
If the data contained within them is not identical that is impossible.
If you want to merge databases I would suggest Transportable Tablespaces ... nothing is faster and safer.
Once you have you data merged you can then create a physical Data Guard standby for purposes of replication if you wish.

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