It’s that time of the year again when the best (and worst) of the Hollywood rabble gather their best frocks and dish out golden statues to each other. Yes, the Oscars are here with a new set of movies and stars vying for your consideration. So what’s new this year? Well, the Academy has decided to go all young and hip by handing presenting duties to Anne Hathaway and James Franco.

They are the Academy’s youngest hosts in its 83-year history and might set the tone for future awards ceremonies. Both have displayed very credible comedic skills in the past, so hopefully there shouldn’t be too many forced jokes or awkward silences. The 10-film format for Best Picture has been retained after been introduced last year. Thankfully, we have a stronger field to pick from this year, so average films like ‘District 9’ and ‘The Blind Side’ did not creep into the list. When the likes of ‘Shutter Island’ and ‘The Town’ do not make the final cut, then you know it’s a tough year.

Best Picture

After the commercial and critical disappointment of 2009/2010, it has been a decent year for cinema. The shackles of the global recession were shaken off and people started going to the movies again. Filmmakers must have missed the memo because this year’s contenders can hardly be described as feel-good movies.

‘Toy Story 3’ is probably the most uplifting of the bunch and even that was known to make some adult viewers cry. It won’t win but its mere presence is another testament to the movie-making prowess of Pixar studios.

‘The Fighter’, a bleak biopic of boxer Micky Ward and his junkie brother, is a fine film about redemption and human sacrifice.

‘Black Swan’, is a neo-noir about a young woman’s struggles with abuse and psychosis. It will not be to everyone’s taste and this will affect its chances.

‘Inception’ is many people’s favourite film of 2010 but sadly, its popularity will count against it. Blockbusters simply do not win in this category.

‘127 Hours’ is a wonderful true-life tale of triumph against the odds but is perhaps too avant garde for Academy tastes.

‘The Kids are Alright’ is a well rendered account of the realities of single-sex marriage but it meanders a bit towards a conclusion.

‘True Grit’ is a remake of the John Wayne classic, a proper Western with delicious vistas and searing individual performances. The story lacks a bit of depth, however, and will most likely count against it. Besides, everyone prefers the original, right?

This predictably leaves it down to a dogfight between two films: ‘The Social Network’, and‘The King’s Speech’. Both have very different types of appeal but if there is any justice, ‘The Social Network’ will win. David Fincher’s film about the advent of Facebook is the best all-round film of 2010. One suspects though that ‘The King’s Speech’ will trump it. The film, about King George VI’s efforts to overcome his stammer, is the kind that usually excites the Academy. Where ‘The Social Network’ represents new age cinema, ‘The King’s Speech’ is a hark back to the classical era and this might well sway the voters.

Best Director

It is an absolute travesty that ‘Inception’s Christopher Nolan is not even nominated in this category. The Academy still turns its nose up at commercially successful films and ‘Inception’ happens to be the latest victim.

The Coen Brothers are an Oscar favourite, but ‘True Grit’ is far from their best work. Nolan, on the other hand, has delivered a filmmaking tour-de-force. Love it or hate it, one cannot ignore the sheer creative audacity of ‘Inception’. Nolan’s loss will almost certainly be David Fincher’s gain. ‘The Social Network’ is masterfully directed. A movie subject as banal as Facebook is somehow made engaging by Aaron Sorkin’s sumptuous script and Fincher’s close directorial control. Of the 82 films that have won Best Picture, 60 of them have also won Best Director. It would be no surprise if Fincher goes home with the two gongs.

Best Actor

You might as well give Colin Firth the award now. In truth, none of the other contenders would even put up much of a fight. Not that their performances are bad — far from it — but Colin Firth ticks almost all the Academy boxes. Period film. Check. English accents. Check. Protagonist struggling with disability. Check. Firth’s performance as the stuttering King George VI is so vulnerable, that it has you rooting for him from the word go. It is good to see Jeff Bridges’ name up again after his win last year. For too long, he has been overlooked by the Academy. In any other year, Jesse Eisenberg’s portrayal of Mark Zuckerberg, the Facebook founder, would have been a surefire thing but this is Firth’s year.

Best Actress

Natalie Portman’s name is probably already engraved on the golden statue for her performance in ‘Black Swan.’ Yet, riveting as it is, her performance rarely extends beyond timid and frightened in Aranofsky’s film. In a film which plays heavily on duality, one craves a tougher alter ego to emerge from the shadows but it never materialises. Nicole Kidman’s role as a grieving mother in ‘Rabbit Hole’ will probably not be rewarded with a golden statuette, but it is a far more nuanced performance. The 2003 winner delivers a masterclass in the use of silence and facial expression as an acting tool. Hers is a genuinely haunting interpretation about the burden of human loss. However, Portman has swept the board until now, picking up all the major awards in the process, and the Academy will most likely follow suit.

Best Supporting Actor

Some performances are instantly iconic and you realize that the moment you are witnessing them. Christian Bale’s portrayal of Dicky Eklund, a junkie ex-boxer living on past glory, is one of those sit-up-and-take-notice moments. Not only does Bale physically transform himself for the role, he throws in several verbal and behavioral tics which only a true thespian can pull off. As one of the last in a dying generation of Method actors, Bale has delivered a career best and will almost certainly reap the dividends on the night. Honourable mention goes to ‘The Town’s’ Jeremy Renner, who shows that his nomination last year, was no fluke; and Geoffrey Rush for ‘The King’s Speech’. A huge surprise it was that Andrew Garfield did not make the cut. His portrayal of Facebook co-founder, Eduardo Saverin, was the heart of ‘The Social Network’.

Best Supporting Actress

This is probably the most hotly contested category. Yet, there is another glaring omission from this list — Marion Cotillard. Her role in ‘Inception’ was one of the best of the year but she doesn’t figure in the nominations. The two supporting actresses for ‘The Fighter’, Amy Adamsand Melissa Leo, will duel it out and both would be equally worthy of the award. However, strong competition might come in the form of 14-year-old, Hailee Steinfeld, the precocious co-star of ‘True-Grit’. Academy judges have never been shy of dishing out awards to young talent when they are truly exceptional, so Miss Steinfeld can definitely be considered a dark horse in this category. Helena Bonham-Carter brings tremendous restraint and regality to the role of King George’s wife in ‘The King’s Speech’ and not many would grumble if she picked up the award.

So that’s it. Good luck to all the nominees. If you are watching in Nigeria, grab some coffee and ensure you have paid up your cable subscription. It promises to be another memorable Oscar night.