Instead of making a big fuss about it. Just go and download the latest version of java, and install it, direct from sun. This will put it in /usr/local/java as oracle and other programs like. Redhat placed it wherever they wanted to, and its not going to eat all your hard drive space to have the latest and greatest installed.
Then, if you want, you can even update the plugins for Netscape and the rest of linux so it all uses the latest version.