we use metadata programming to add oracle-library definitions to the metadata server. I suppose for this approach it is not relevant, whether you access the Oracle schema with SAS Access to Oracle (in our case) or through ODBC. There are serveral advantages using sas-programms to add the metadata:
1. you can do it on a regular basis with batch programs
2. you can deploy the program for your different environments or installations
3. you can use it in a migration of your SAS platform
4. you can write the programs in a way, that changes in the underlying oracle structures (addition, deletion, change of oracle schema) are propagated into the metadata
The most valuable interface for metadata programming is the OMI xml request/response framework you can use with proc metadata. This allows to extract the hiarchical structure of the metadata into relational tables which are easier to read. Conversely you can set up sas tables which are transformed into metadata-xml-requests. This approach is easier to understand, than the user of data step metadata functions, which often result in lengthy SAS programs.
For password management I recommend the SetPassword utility in the SASPlattformObjectFramework. Again you can use it in batch mode with a text file as input.