The 82nd Academy Awards has enough dramatic storylines to make a great movie. The number of best picture candidates has been super-sized, from five to ten, and the number of hosts has been doubled. Leading up to the event Cablevision squared off with Disney over whether the broadcast would be aired in the New York City area. And on the show, ex-spouses James Cameron ("Avatar") and Kathryn Bigelow ("The Hurt Locker") will face off over some of the top prizes, including best picture and best director. "Precious," "The Blind Side" and "Inglourious Basterds," are also in the mix.

Speakeasy will be live-blogging the Oscars from the arrivals at 7 p.m. ET all the way to the awarding of the last golden statuette, with reports from inside and outside the ceremony.

6:05
A million hearts flutter. Zac Effron, dapper in his tuxedo and dark hair, diplomatically sidesteps who he thinks should win Best Picture.

6:08
Ryan Seacrest thanks Burberry's Christopher Bailey for shipping him his tuxedo.

6:10
Anna Kendrick looks age-appropriate in a blush-colored gown which gathers at the shoulders with a floral detail. It was a last-minute decision she says.

6:27
Oy, Zoe Saldana. Another pretty on top but "what is going on" at the bottom outfit. A restrained glittery bodice gives was to an overload of ombre purple ruffles.

6:30
First Marchesa sighting of the night, on Up in the Air's Vera Farmiga. Gown is a saturated red with multiple ruffles. We applaud the risk-taking but we're a little ambivalent about the execution.

6:44
Elisabeth Banks wears a fetching Versace in a soft pale purple, and more ruffles. Are ruffles this year's design go-to?

6:50
I'm sorry, I was looking at photos. Did Sigourney Weaver just say that for her next film, she's learned to pole dance? Oh, America.

6:57 pm
A glimpse of Sandra Bullock in the crowd reveals a shimmery gold gown and smooth long locks. Very promising.

Oh and we forgot to mention, Maggie Gyllenhaal sets fashion hearts fluttering with a gorgeous watercolor-esque Dries van Noten.

Full live-blog continued at WSJ Speakeasy blog