I just installed Oracle 8.1.7 on RedHat 7.2 and was able to do this by exactly following Brunos instructions at
http://archive.greenpeace.org/~bruno/oracle.html with one crucial addition:
Before running the runInstaller script I downgraded the Binutils:
rpm -Uvh --force --nodeps binutils-2.10.91.0.2-3.i386.rpm
After the Oracle installation was done I upgraded them again:
rpm -Uvh binutils-2.11.90.0.8-9.i386.rpm
Thanks for an excellent document Bruno!