I was speaking with a customer a few days ago about PeopleSoft Web Services.  The customer created a web service but when they went to deploy it, they had so many problems configuring ws-security, they pulled the service.  They spent several days trying to get it working but never got it working so they've put it on hold until they have time to work through the issues.

Having gone through the process of configuring ws-security myself, I understand the complexity.  There is no magic 'easy' button to push.  If you are not familiar with all the moving parts like policies, certificates, public and private keys, credential stores, and so on, it can be a daunting task.  PeopleBooks documentation is good but does not offer a step-by-step example to follow.  Fear not, for those that want more help, there is a place to go.

PeopleSoft released a Mobile Inventory Management application over a year ago.  It is a mobile app built with Oracle Fusion Application Development Framework (ADF) that accesses PeopleSoft content through standard web services.  Part of the installation of this app is configuring ws-security for the web services used in the application. 

Appendix A of the PeopleSoft FSCM91 Mobile Inventory Management Installation Guide is called Configuring WS-Security for Mobile Inventory Management.  It is a step-by-step guide to configure ws-security between a server running Oracle Web Server Management (OWSM) and PeopleSoft Integration Broker.  Your environment might be different, but the steps will be similar, and on the PeopleSoft side, Integration Broker will remain a constant.

You can find the installation guide on Oracle Suport.  Sign in to https://support.us.oracle.com and search for document 1290972.1.  Read through Appendix A for more details about how to set up ws-security with PeopleSoft web services.