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I admit that I am partial to musicals - and when I heard that Hugh Jackman would be hosting I was actually quite excited since there was a good chance that he would do a musical number. The man can act, dance, sing, and he's just great looking. I loved the opening extravaganza. Much better than I ever expect from the Oscars.
But even better, there were no Julia Roberts, or Halle Berry moments, by which I mean, moments where I sat in bemused astonishment as a truly mediocre talent received the prize that is (rightfully or not) considered the pinnacle of acheivement for an actor/director. I've seen many of the films this year, and I did not think that Slumdog Millionaire was a work of genius, but I did like it, and I do think that Danny Boyle is very good (28 Days Later, Sunshine are two of my faves). Plus the soundtrack was amazing.
The heartfelt speeches were amazing - starting with Penelope Cruz. My roomie and I were passing the tissues for much of the rest of the evening. And seeing Kate Winslet win was the pinnacle. She deserved that Oscar just for being the amazing talent she is.