This forum thread is a discussion about the scenario where ALL Controlfiles are lost, but the rest of the database is intact. Since the Datafiles and Online Redo Log files are intact, Complete Recovery is possible. The question is "should you restore the Controlfiles from a Binary Backup OR should you recreate the Controlfiles ?". The next question would be "If you don't have a Trace Backup of your Controlfile, what would you do ?".
We discuss the issues and options in the thread, with pointers to other discussions and the documentation as well.