7:30 pm -- And we're off! For some reason, Neil Patrick Harris is opening the show with a musical number.
7:35 pm -- Oh, okay. Here's the real hosts -- Alec Baldwin and Steve Martin. The cool thing about the Oscars this year is that you know, at any moment, Baldwin might go nuts and attack Martin. My money, however, is on Steve Martin.
7:45 pm -- Baldwin and Martin's opening monologue was actually pretty good as far as things go.
7:47 pm -- Penelope Cruz comes out to present Best Supporting Actor. The smart money seems to be on Christoph Waltz. And that's why the money is smart because Waltz wins.
7:50 -- Ryan Reynolds -- hard to believe he was once the star of a show called Two Guys, a Girl, and a Pizza Place -- shows up to talk about The Blind Side.
7:55 -- I actually thought Waltz gave a pretty good acceptance speech. Humility is always appreciated.
8:00 -- Steve Carrell and Cameron Diaz are now here to give Best Animated Feature to Up. Up was enjoyable but forgettable. The Fantastic Mr. Fox is the nominee that people will remember.
8:05 -- The Weary Kind from Crazy Heart just won Best Original Song. It now joins It's Hard Out Here For A Pimp in the history books.
8:10 -- Robert Downey, Jr. and Tina Fey (odd couple, to be honest) are now coming out to present Best Original Screenplay. Hopefully, the award will go to Inglorious Basterds or A Serious Man.
8:15 -- The Hurt Locker, however, is the winner. Which might indicate that Avatar won't be taking best picture after all.
8:20 -- This is followed by a tribute to John Hughes which is makes me feel very, very old.