As extension to Florin's well thought out answers,
Traditionally the argument for doing all the business logic in the model layer has always been with the implied threat "if you ever change your UI technology implementation you'll regret doing such logic in managed beans because you'll need to rewrite it". However the complete JDev & ADF tech set was changing so much (think v1 to v2 to .... v11) that I suspect most customers went for a complete rewrite (if at all), so this was really a hollow threat.
With JDev 10g, & much much more so in 11g we see the tech set has settled down/massively matured such that what you write in ADF BC in 11g will likely survive for versions to come. Indeed 12c could have been arguably called 11gR3.
So now we have that framework stability, is the MVC argument worth any more merit now?
Within the 11g timeframe and with more momentum in the 12c timeframe, exposing ADF BC as SOAP based web services, and sometime in the future REST based web services, will gain more momentum/importance. Indeed I'm frequently asked questions by ADF Mobile programmers how can we integrate our traditional ADF BC business logic in our server apps into our ADF Mobile apps without having to rewrite everything from scratch? Answer: ADF BC web services.
As such if you now code logic into the managed bean/UI layer of your server based ADF application, in the future when you choose to integrate a mobile solution (be it with ADF Mobile or some other tech) you may come to regret that you've placed business logic in the wrong place. While there are certainly arguments of the suitability (or not) of ADF BC exposed as web services, we can see from this discussion on mobile that MVC has proven its worth again. 5yrs or less ago we probably wouldn't have predicted this, but integrating mobile (as separate to a different UI technology) is another proving point to the while MVC argument.
Putting aside the above discussion, if you implement a grey rule regarding where business logic goes, rather than the much clearer (though not perfect) MVC guidelines, as an ex team leader, (to quib an Australianism), how on Earth are you going to enforce this mess? Your junior programmers are always going to think they know best and push the boundaries of what should go where, it's as good as no rule whatsoever. Before you know it you'll have managed beans opening their own JDBC connections, your DB connections per user session spiralling out of control & as result a poorly scalable app, Java programmers implementing stuff ADF BC already does because they're ignorant of ADF BC's functionality & now have an excuse not to use it, and yet another rant "ADF failed us" when indeed you haven't implemented an ADF MVC application, you've gone some Java/JSF free for all root.
My money is on following the MVC guidelines for successful ADF projects. If you don't want to do stuff the way ADF does it, don't use ADF.
CM.