Yeah, I didn't actually watch the Oscars—I just laid around on the couch, feeling ill and dozing through The Simpsons Movie. However, I did catch up on the important points (i.e., the fashion) after the fact. My conclusion: meh. Pretty tasteful overall, but nothing that took my breath away.
If I had to pick a favorite, my vote would go to Helen Mirren's elegant silver ensemble. Partially, in truth, because it looks a bit like an adult version of my Ozma of Oz costume that I wore in kindergarten. Only the spangled tulle overlay, but hey, it works for me. I was pleasantly surprised by Cameron Diaz's entire look (she usually looks a bit deranged, or at best unwashed). And, while there were a few contenders for least attractive ensemble, I think Sarah Jessica Parker's won (er, lost?). The dress is frumpy, shapeless, and confusing (how is it even staying up?), her skin's an unhealthy shade of orange, and I've heard her hairdo compared to challah and Gary Oldman's Dracula coiffure.
Check out Jezebel's roundups of the best and worst of the red carpet and the high- and lowlights of the Vanity Fair afterparty.