Well it depends.
OSB will integrate existing BEA's Aqualogic Service Bus. It is a service bus only.
WLI will no longer exists. Now it will be part of Oracle BPEL PM ( Oracle BPEL Process Manager execution engine )
A service bus may be used to integrated webservice "ready" applications. If your small applications can already be deployed as webservices this would be the correct choice, there is nothing to coordinate there, you just, expose them.
In the other hand, WLI is for coordinating the interaction among services and create a new one. You would code the way those services will be interacting with each other.
If your applications are very "process" oriented ( where little to none user interaction is required ) and you need to create a new service out of this this would be the choice ( I think the apps should be webservice ready anyway )
If your applications are more user oriented, and you're binding them together to create a new flow ( a business process ) then the right tool would be Oracle BPM. With that tool you can integrate applications ( which may not be web-service ready ) create a new business process and expose it as webservice.
So , it depends on your needs.
With Oracle BPM tool you can integrate your apps and deploy them as WS.
As for Oracle BPM goes, I could give you more details if you need :)