This is a kind of a "duh" moment, and it might have been discussed previously, but the direction I'm going towards now if I must have a physical server is to have Hyper-V run on the server and host only 1 guest OS, whatever I want to virtualize. It's not the best use of resources, but in my case for the price of virtualizing an Oracle workload this makes sense money-wise. I can then use Veeam to back up the VM, still stay compliant licensing wise, and get all the benefits of virtualizing (VM mobility, DR, etc).
I'll probably start pricing this out and make my case to management soon. Getting away from physical backups is the end goal for me, backup-exec didn't have a good story around WAN backups, and Veeam is sooo simple, love it!