I\'ve tried to install \"Oracle10g Release 2 ODAC (64-bit) 10.2.0.3 for Windows x64\" from: http://www.oracle.com/technology/software/tech/windows/odpnet/64-bit
It's a really tricky. Before installing ODP.NET you need to already have working connection setup to oracle database. That means:
Step 1: Oracle install client (never succeeded with that, not recommended) or Oracle client (succeeded on Win7 ultimate 64bit, file win64_11gR1_client.zip, installed with "Runtime" option selected). After client install make sure you can connect. From command line try "tnsping yourtnanamesentry" to check if tnsnames is ok, and after that "sqlplus username/pwd@yourtnsnamesentry" to check if you know valid user and password and really can connect. Memorize or write down oracle home name and path you choosed during install.
Step 2: Install ODP.NET (I did with file ODAC1110720.zip). Use exactly the same oracle home name, but different path during installation.
Step 3: try connecting with visual studio. For "server name" I used this: "oraclexe:1521/xe". That means I have machine called "oraclexe" which has oracle listener on port 1521, and database with instance name "xe". It's so-called "EZCONNECT" name.
I'm not sure if Step 1 is really needed or not, because maybe step3 really uses just oracle instant client. I know, it is real pain, but this works. It took me 2 days to connect to oracle, and I had to install almost 1GB of downloaded oracle software. They could and should make that much, much, much, much easier. Like one-click install that just works. This is shame how complicated client install is.