The Insider.com

You've made it through the Golden Globes, the SAG Awards and everything in between -- now the time has come for cinema's ultimate celebration: The 2012 Academy Awards!

• February 26, 2012'Act of Valor' Raids Box Office
• February 25, 2012Adam Sandler Makes Razzie History
• February 24, 2012Win a 'Puss in Boots' Viewing Party Kit!
• February 24, 2012Octavia Spencer Talks Oscars, Fashion & Fame
• February 24, 2012First Look - Selma Blair's 'Circle' of Doom!
• February 23, 2012Five Great Love-to-Hate Razzie Winners

Oscar Watch - And the Nominees Are...

And we'll be live-blogging all the action for our fellow couch surfers .. so watch and read along!

2:34 p.m. - First on the red carpet is 11-year-old Descendants co-star Amara Miller. She not only has a stylist, but is wearing Valentino couture. Only in Hollywood folks!

2:40 p.m. - E! shows a shot of Missy Piggy and Kermit arriving. They are adorable. I want them to host this god-forsaken show.

2: 42 p.m. - The Artist star Penelope Ann Miller looks gorgeous in Badgley Mischka. Check out my interview with her here!

2:52 p.m. - Missi Pyle is wearing a stunning eco-friendly dress by Valentina Delfino. Definitely have an early front-runner for best dressed!

2:54 p.m. - First legit celebrity on the red carpet (sorry stars of The Artist) is Milla Jovovich. Although given her box office performance of late, that legit should have quotation marks around it.

3:07 p.m. - Wolfgang Puck brings out all the food being served at tonight's Governor's Ball. Too bad it's being served to a room of people who don't eat.

3:10 p.m. - A string of sumptuous ladies make their way to Seacrest's mic - in order of fashion fabulousness, they go like this: Rose Byrne, Ellie Kemper, Wendi McLendon-Covey followed, in last, by Berenice Bejo. Oh no Bejo.

3:15 p.m. - Melissa McCarthy shows up in a flowy pink gown. You know what I think about her dress? Um ... she's a wonderful actress.

3:17 p.m. - Stacey Keibler shows up in a gorgeous gold Marchesa gown -- one of the twelve I predicted would go straight from the NY Fashion Week runway to the red carpet.

3:24 p.m. - Camera cuts to a random shot of Judy Greer posing on the red carpet and I scream, "Yes Bitch!" It's gay moments of enthusiasm that are exactly what the Oscars are fueled by.

3:26 p.m. - Jessica Chastain brought her grandmother and couldn't be more bubbly about the wonderful year she's had. Ends interview with "Thank you for being so nice to my nana!"

3:33 p.m. - Now arriving, Oscar-nominee Jonah Hill (something I will never get used to writing).

3:37 p.m. - Viola Davis went wig-free again tonight. I love it. She looks flawless as always. "Hair by Mary Alice Davis, my mother," Viola laughs.

3:43 - Diddy getting lint rolled by his assistant outside the limo is easily the best thing you'll see tonight. Close up shop, we're done.

3:46 p.m. - Judd Apatow & Leslie Mann giving Seacrest sh*t about the volume of ill Idol contestants further proves I am destined to be their best TV buddy. Seriously guys, call me. I have AT&T U-Verse, I can record four things at once!

2012 Oscar Snubs

3:53 p.m. - Michelle Williams with Ryan Seacrest with Rooney Mara on deck. That means their dates, Busy Philipps and Kate Mara, are waiting in the wings, chatting with one another.

3:58 p.m. - As Jason Segel hits the red carpet, I realize just how many TV stars are in attendance tonight. Shailene Woodley, Lea Thompson, Maya Rudolph, Ellie Kemper, Judy Greer, Busy Philipps, Sarah Hyland, Tina Fey ... the list goes on.

4:01 p.m. - Octavia Spencer didn't prepare an acceptance speech. Prepare for a lot of shocked dead air when she takes the podium in roughly two hours.

Insider.com Interviews Octavia Spencer

4:05 p.m. - Maya Rudolph reveals that Nelly Furtado is the only celeb she's impersonated who didn't care for the "honor."

4:13 p.m. - Ryan Seacrest implies that the hardest part of his job is NOT staring at the ladies cleavage ... yea. We all believe that.

4:16 p.m. - Ryan Seacrest getting Kim Jong-il's "ashes" dumped all over him by The Dictator (a.k.a Sacha Baron Cohen) made all that PR preamble worth it. Seacrest can't mask his disdain.

4:23 p.m. - Antonio Banderas to Seacrest, post-ashing: "I understand that this is a dead body?"

4:24 p.m. "You're a victim of comedy." - Tina Fey to Ryan Seacrest, post-ashing.

4:25 p.m. - Ryan has now turned a third straight interview into an opportunity for him to complain about having "ashes" thrown all over him. Thankfully Jennifer Lopez gets the interview back to what matters: her cleavage. They're real and they're spectacular.

4:29 p.m. - Emma Stone ripped off one of Nicole Kidman's least successful red carpet looks, ever. Sigh.

4:42 p.m. - We have now been without Seacrest for 20-odd minutes. And they are odd minutes -- we're being subjected to Guiliana and Kelly Osbourne talking fashion with stylist Jessica Paster and Sarah Hyland. Supposedly it's a contractual thing with ABC, but I'm going to pretend it's because Seacrest is throwing a tantrum over ash-gate

4:53 p.m. - Just learned that ABC exclusively owns red carpet coverage for the hour preceeding the telecast. So that's all from E!