11:53: Slumdog fulfills its destiny by capturing the biggest prize of them all, best picture. The film goes home with eight trophies tonight. What an improbable journey for a small movie. It is also the first Best Picture win for small studio Fox Searchlight. Congratulations!

It was a very entertaining show overall. Hugh Jackman certainly surpassed expectations. There also were not a lot of big surprises. All in all a fun night. Thanks tuning in.

And, if you’re curious, Oscar Frenzy finished 19 out of 24.

11:43: Sean Penn wins for Milk. That’s somewhat unexpected. Sean Penn did completely immerse himself into the role of Harvey Milk. He was also recognized by the Screen Actor’s Guild. Too bad for Mickey Rourke. It was a great run. This marks the second best actor win for Sean Penn in five years. He now joins Tom Hanks and Dustin Hoffman as contemporary actors with multiple best actor wins.

11:36: It’s nice that they haven’t played anyone off-stage yet this year.

11:32: Winslet just won best actress. Wonder if the vote was close between Winslet and Streep. Winslet is as deserving of this award as anyone. she has consistently played breathtaking roles and pushed herself to the limit. She could be the next Meryl Streep.

11:27: Slumdog has won 7 Oscars with Best Picture to come. The biggest upsets so far have been Departures for Foreign Film and La Maison in the Animated Short category. Will there be another upset in Best Actor or Best Actress?

11:21: Slumdog wins for best director.

11:05: Departures takes best foreign film. Oscar Frenzy is 16/20 and Julia is dancing with joy after predicting the win in her pool.

11:01: “Jai Ho” from Slumdog wins. We are 16/19.

10:54: Slumdog takes best score. It stands to win 8 awards. That would be the highest total since Return of the King.

10:46: Shortest honorary speech ever.

10:44: Does every Oscar montage really warrant Coldplay?

10:36: Why aren’t they playing the winning film’s score when someone from that film wins? We miss that.

10:35: Slumdog wins film editing. It is really efficient to have one presenter present multiple awards that are similar. The awards feel much faster this year.

10:31: Slumdog takes sound mixing. Drat! We predicted Dark Knight.

10:29: Sound editing goes to The Dark Knight. This means that there will not be a Slumdog sweep.

10:27: Button takes visual effects.

10:18: Smile Pinki wins in an upset for best documentary short.

10:15: Man on Wire wins. It’s a fascinating story and we can see how a film that depicts the World Trade Center would be irresistible to the Academy.

10:08: Ledger wins for best supporting actor. This is a wonderful moment. Heath Ledger was an astonishing actor who was steadfastly devoted to his craft and always looking for ways to challenge himself. Bravo!

10:05: And now, it’s time for another awkward acting award presentation. This is just about the dumbest thing the the Oscars has done to the presentation format, with the exception of the year when they presented awards to the winners in the audience section.

9:46: Best live action short is Toyland.

9:36: Slumdog takes screenplay. This is the first time since 1999 (American Beauty) that a film won for cinematography without being nominated for art direction. We are 8/9.

9:27: These montages divided up by film genre are actually pretty entertaining

9:21: The Dutchess takes costume design. Button wins best makeup.

9:18: Benjamin Button takes art direction. With 13 nominations, you gotta think that The Curious Case of Benjamin will win some. Here’s the first.

9:10: La Maison en Petits Cubes wins best short film, animated. We are 4/5.

9:03: WALL-E takes best animated feature. Should we just pencil in UP! for next year?

9:01: Here comes the first of many awards for Slumdog Millionaire. Best adapted screenplay goes to Slumdog. We are 2/3.

8:58: And the winner for best original screenplay is Dustin Lance Black for Milk.

8:53: It’s nice to see Tiny Fey and Steve Martin present. Can they present every award?

8:45: And Penelope Cruz wins supporting actress. We are 1/1.

8:43: This is a pleasant surprise, production value wise, but it’s always been a nice tradition to see last year’s supporting actor present this award. Also, where did the clips go? If they do these personal introductions for all of the acting awards, the ceremony will never end.

8:38: That opening number was the most expensive-looking cheap production we’ve ever seen.

8:36: Poor The Reader. I don’t think this is a good sign.

8:34: Are the Craigslist dancers actually from Craigslist?

8:30: And here we go. It’s odd to have such a good-looking host who can sing. The Oscars definitely feel very different this year.

8:20: Welcome to our fourth annual Academy Awards LiveBlog! Stay with us as we give you the winners as they are announced. We’ll also offer instant reactions and forecast what is to come based on initial results. A big question on people’s minds tonight is just how far will Slumdog Millionaire go? This little film that swept all the critics’ awards now stands at the gates of Oscar History. Will it truly live up to the hype? We shall see. No matter what, there are bound to be some interesting surprises tonight.

8:00: The show starts in 30 minutes. Looking forward to a possible Rourke acceptance speech.