I should add, this is also while using a single bdb environment for all partitions that belong to a node -- note the most efficient way to store this data (bdb je 4.0 does support sharing a cache between multiple environments, so we might move to separate environment per partition model). We've also built the distribution layer ourselves, rather than use the built-in HA features, but if I recall correctly, the first version of Amazon SimpleDB (prior to Erlang re-write) was built with BDB-JE HA (not to be confused with Amazon Dynamo, which is built on regular BDB-JE and provides its own distribution mechanisms).
Overall, we've found that BDB-JE performs best when there's 1:5 ratio between memory and data set size. With JE (as opposed to classic BDB) the issues are: Java implies a certain vertical scalability limit (due to GC pauses with very large heap sizes, however the GC does get better with every release), log-structured B+Tree is great for writes, but might mean more seeks being made for reads (especially if you were to use range query functionality).
Licensing might be an issue if you're shipping a commercial product to customer site. It doesn't matter if it's used on your own servers or in an open source project (and unlike GPL, the BerkeleyDB license is compatible with Apache licensed projects). The licensing also doesn't apply to Perl/Ruby/Python/other dynamic language bindings for BerkeleyDB, you're free to package them (and then request the customer to install BerkeleyDB themselves, much like you would with MySQL).
In short, it's a great solution if you fit its use case. I should also add that interacting with the Sleepycat people online (e.g., on the forums) also makes you forget they're a part of Oracle.
The BerkeleyDB license is roughly: free to include in open-source projects, pay if you want to redistribute as part of a closed-source product. So like with the GPL, using strictly inside your company might not be considered 'distribution'. But also, if you are selling software licenses their bundling rates might not be bad compared to your unit price. Of course, do your own license analysis before business use.
(1) If people need to pay to use, it's not "open source" by the "open source definition" of the OSI: <http://www.opensource.org/docs/osd>;
(2) Contacting Oracle/BDB will let you know what they think your obligations are.