It didn’t really play out as exciting as the TV plugs would have you expect, but the Oscars is still the most hotly anticipated night in Hollywood. From celebrity sightings to an all-out fashion watch, the Oscars this year carries with it the tradition of glitz and old Hollywood glamour.

While the fashion sideshow has gotten as much attention as the ceremony itself, the Oscars is really still about the best that Hollywood has to offer. No matter how long and boring the shows would get, or what kind of outfits the stars parade, its real relevance lies in the fact that the people they are honoring here have given ground-breaking, moving and compelling performances; the achievements here acknowledged often exemplify true labor of love.

Forget colonial mentality on our parts; one need only check out the nominated actors and the movies to know this is, at least, still the way to do movies. Consider the war movie “The Hurt Locker” beating the newly crowned biggest grossing movie of all time. Consider Mo’nique’s powerfully stirring performance getting the praise (and the trophy) it deserves. Consider underdog (but critics’ bet) Jeff Bridges finally winning his first.

Despite its glammed up Kodak Theatre stage —comprised of revolving platforms, giant screens and a set design that literally changed moods with the lights—to the strict imposition of the 45-second speech rule, the Oscars telecast still had critics panning everything from its been-there/done-that feel to its pacing.

Every year these critics yawn about the Oscars, but every year they watch anyway—which makes you wonder what it is they really want? Some suggested removing the live awarding of ‘lesser’ categories like the ones for documentaries, sound mixing and the likes—ouch! But however bored some critics felt, the Oscars sure had its interesting moments.

Neil Patrick Harris’ opening number was a surprise; his Vegas-style production number and his shimmering tuxedo set up the glam factor and signaled that it was a night for only one thing—entertainment. So don’t over-think it. Too bad his voice could hardly be heard on the telecast; nor could the stars the cameras were cutting to be seen because there weren’t any lights on them.

Hosts Steve Martin and Alec Baldwin, who were floated down onto the stage strapped to this giant shimmering contraption, got the crowd chuckling during their time on stage despite appearing—perhaps deliberately—stiff, staged and amateurish… “Oh look, there’s George Clooney…” Throughout the night, it was mostly Baldwin that set-up the joke, with Martin delivering the punch lines.

With the laughs coming mostly at the expense of the big-name celebrities sitting at the front rows, the awards went underway with hardly any truly stunning moment. But it’s not like they didn’t try.

The homage to horror films was set-up nicely with Martin and Baldwin re-enacting “Paranormal Activity.” There was also a touching rendition of “In My Life” by James Taylor as the Oscars remembered the departed, including Ron Silver, Brittany Murphy, Roy E. Disney, Natasha Richardson, Karl Malden and even Michael Jackson.

But it was another tribute—this time for director John Hughes—that had Roger Ebert describing it as “one of the greatest moments in Academy Award history.” The moment, highlighted by the onstage appearance of some of Hughes’ stars in his coming-of-age movies from Jon Cryer to Molly Ringwald, Matthew Broderick to Macaulay Culkin and with the Hughes’ family in the audience, fell a little off during the telecast, however, when the camera cut to “Twilight” stars Kristen Stewart and Taylor Lautner in the front row looking like they didn’t know who Hughes was. Ah, kids…

The Hollywood watchers had already predicted this year’s winners long before the show—which made it a little anti-climactic, really—but that “The Hurt Locker” kicked butt and showed the world it’s not always about the numbers nor the state-of-the-art effects is worth celebrating. Its director, Kathryn Bigelow—who sat the whole night in front of ex-husband and fellow Best Director nominee, James Cameron, for that perfect shot when the producers needed it—made Oscar history by being the first-ever woman director to win the award.

Sandra Bullock also made a little history on the side, having been the only actor ever to win both a Razzie (the Oscar awards parody giving props to the worst Hollywood offering) and an Oscar in the same year. The former was for her role in the much-maligned “All About Steve;” the latter, of course, for “The Blind Side.”

(For a full list of winners, speeches, thank you cam appearances, photos and more, visit: http://oscars.go.com)

Five funny bits by Martin and Baldwin:

1. Steve Martin: “If you’d like a transcript of tonight’s show, you should really think about getting a life.”

2. Steve Martin: “And there’s that damn Helen Mirren.”
Baldwin: “That’s Dame Helen Mirren.”

3. Talking about Kathryn Bigelow and James Cameron
Alec Baldwin: “She sent him a beautiful gift basket, with a timer.”
Steve Martin: “And he reciprocated by sending her a Toyota.”

4. Talking about Christoph Waltz and his Nazi-hatin’ character in “Inglourious Basterds” and addressing the Austrian actor
Steve Martin: “Well Christoph,” he gestures to he entire auditorium, “the motherload!”

5. While ending the show
Steve Martin: “The show is so long that ‘Avatar’ now takes place… in the past.”

Presenters you might want to look up on YouTube:

The great banter between Tina Fey and Robert Downey, Jr. about scriptwriters and actors before introducing the Best Screenplay nominees.

Ben Stiller coming out in blue Nav’i get-up and speaking in the alien tongue. “That means, ‘This seemed like a better idea at rehearsal.’ It was between this and the Nazi uniform, but I felt the show was already Hitler-heavy.”

Things that made us go hmmm…

That woman who we assume is Elinor Burkett going onstage to accept the award for Best Documentary Short, “Music by Prudence,” and rudely cutting off the guy we assume is Roger Williams while the latter was already talking.

The winner of the best Costume Design, Sandy Powell (for “The Young Victoria”) saying, “I already have two of these…” Rub it in, why don’t you?

And while we appreciate the amazing interpretative/modern jazz/street/pop locking dancers—who could have all been members of several seasons’ cast of the amazing show “So You Think You Can Dance,” who knows—their production number for the Original Score nominees felt like a letdown.

George Clooney and his arm candy looking a lot bored—one Twitter entry has described it as “crabby”—right there, in the front row.

Our favorite presenter spiels:

Tim Robbins presenting Morgan Freeman (who worked together in “Shawshank Redemption”): “He said, 'Being a friend is getting each other a cup of coffee. Can you do that for me, Ted? It is Ted, isn’t it?'”

Stanley Tucci presenting Meryl Streep: “What they don’t know is your kindness, collaborative nature, and good humor…” And he continued with: “I’ve spearheaded a movement in the Academy to cap the nominations actors get at 16…” But he ends with, “Quite simply, Meryl is the best.”

Best acceptance speech opener:

Sandra Bullock: “Did I really earn this or did I just wear you all down?”