Well, it just wouldn’t be March without Oscar. The 74th annual Academy Awards ceremony will be held for the first time in the newly opened Kodak Theater in Hollywood. Amid the glitz and glamour of the ceremony, expect a few laughs from returning host Whoopi Goldberg, and be sure to watch for photos of the after-party being held in the adjacent Grand Ballroom (run by chef-to-the-stars Wolfgang Puck). If you don’t have seats reserved in the Kodak Theater, never fear; you can view the production from the comfort of your own couch. Just tune in to ABC at 7 p.m. ET on Sunday, March 24, for the preshow, followed directly by the live broadcast.

But enough about the party and on to what everyone wants to know: Who will walk away a winner, and who will be a fallen star? Here are our picks for the biggies:
Best Performance by an Actor in a Leading Role: WILL SMITH
Best Performance by an Actress in a Leading Role: NICOLE KIDMAN