With BI 4.2 you can now access HANA direct so it is a start. Keep in-mid that BOBJ is a reporting tool while BW is Data Warehousing tool. You can most of the functionalities of HANA but not everything. You still need need some sort of Warehousing tool. You would still need to run BW on HANA. It would all depend on your data volume but not best practice to report against your transaction data direct.
please check the SAPs Datawarehousing Strategy. As you have a SAP Footprint (ECC) the BW should be your clear central DWH Solution. You should not replace it with HANA native or HANA Live. In your case you should think about migrating to BW on HANA.
If you check future Roadmap for BW, it is NOT going away. The next generation of BW will actually leverage and sit on HANA. You still an Enterprise Data-warehouse and you should never report directly against your transaction (ECC) data.
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