"Objects are fine and well, but it's still an RDBMS you are dealing with."
Unless, of course, it isn't. Part of the appeal of an ORM in my experience is the ability to also transparently persist objects in containers which are not RDBMS's. My current example: a biz app which has two storage mechanisms; one is a relational DB--the kind of thing SQLObject would work perfectly with. But half the data is stored in a third-party container, which provides SQL for reading, but a proprietary API for writing, which models objects completely differently.
"...And when you are using your objects, you shouldn't expect to forget what they really are -- connectors to the database."
Sorry, I don't buy it. Abstraction is forgetfulness, IMO.