You can use OMF for Production database, especially if you are using SAME (Strip And Mirror Everything), under a single mount point, and as jrpm said, using an EMC array, you've already distributed your I/O.

Nothing wrong with OMF under this configuration.

Next I'll be hearing that if a Buffer_cache_ratio < 96% your database is performing badly.

ALTHOUGH, redo logs are a different story, YOU MUST multiplex your redo logs, don't rely on OS Mirroring, cause if you have an error writing the the log... this error is MIRRORED and you're stuffed.