Nominees: Atonement, Juno, Michael Clayton, No Country for Old Men and There Will Be Blood
Who Should Win: (tie) No Country for Old Men and There Will Be Blood
You know, this is probably the first year where I would be entirely satisfied with the Oscar going to two films (other than the year Crash won, where I wanted anything BUT Crash to get the Oscar). Both are remarkable in their own right and both will stand the test of time.
The WTF? Nominee: Atonement
Before seeing Atonement, I was disappointed that the Academy went for what's expected of them: a boring costume drama. And while I didn't despise Atonement, it lacked something... and I think that would be getting the meat of the book lost in translation. I can't think of any film I've seen recently where I've thought, "Wow, this was probably an amazing book... too bad for the film."