This is a two part question:
I would like to know where does Oracle ADF 11g stand as a framework to develop / deploy Web / Java EE Applications as compared to other fra
Short answer:
Long answer:
If you going to Enterprise, if your general product's stack vendor is Oracle. Your best choise is to go along with ADF. ADF becomes better with each major release. I've started using ADF since 11.1.1.2, had a look at 10.x and now using 12.1.3, while still supporting large enterprise applications on 11.1.1.6.
I see a huge improvement and its really hard to find another product that provide better integration and support for whole Oracle stack.
However, if you quite familiar with other framework or/and not going to use other Oracle products and/or your customers can't afford to pay quite a lot for ADF/Weblogic/DB/ECM etc.. - your best choise is to avoid ADF. Its good for large enterprise solutions.
Yes, in fact actually you can develop using free and limited version of ADF - Essentials, use other app server as tomcat or glassfish, but you'll be better off with the other framework. ADF Essentials is only kickstart to large enterprise world, not a solution for small lightweight application.