A couple comments..
You do not need SRM to support buying off the internet. SAP supports this natively in ECC6.0, but it has some limitations. SRM is definitely an option, but that brings its own overhead and is overkill for many companies.
I have been working with both MM and SRM for many years and know the strengths/weaknesses of each. Instead of having companies implement SRM, we developed a new UI that sits on top of R/3 or ECC (can actually work with SRM too). It is an awesome looking Adboe Flex/Flash based UI and is a presentation layer. It supports internally hosted catalogs (MDM or other), vendor hosted, buying on behalf of, etc. Another benefit is our catalog functionality does not require ECC6.0. The solution does not require any new hardware, software, etc.
It is true that SAP launched their own catalog tool. I have been working on this for 2 years. Version 2 is out and version 3 will be out pretty soon. I would strongly suggest using MDM as your internally hosted catalog solution and not look at Requisite.
Use the url below to view our demo:
http://simplifying-it.net/demos.html
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