Proper drive partitioning in Linux for Oracle
It all looks fairly logical from a historical point of view.  You generally want to separate out your redo, data, exports, backups etc to separate disks if you can.  You may find that these are all mounted from different physical disks which is the 'correct' way of doing things (e.g. you don't want your data and redo on the same disks if you can help it).  

However, from my point of view it's a fairly "old school" build.

For the Oracle 11gR2 environments that I am currently building, I only have the following Oracle specific mounts:

/u01/ (oracle homes)
+FRA (ASM) _or_ /FRA (depending on requirements)
+DATA (ASM)
/backups/ (so that Netbackup plays nicely with RMAN backupsets)


I could split it up more, but seeing as everything's coming from the same SAN device and I can't persuade my infrastructure team to spend the time ensuring that they're all coming from different LUNs/physical disks, I'm not too worried yet.