Aviator is a great movie directed by the greatest living director.
Sideways and Million Dollar Baby are both good character studies that stumble in their third acts.
Ray was a good, if not great bio. Jaime Foxx was superb in it.
Finding Neverland was a boring retread of Shakespeare in Love except with no nudity and a cancer subplot.
They did a good job with Best Actor(except Giamatti deserves to be there over pretty boy Depp), Actress, and Supporting Actress(except for Portman who reminded me of a department store mannequin in Closer. She was better in Garden State.)
Also, a few of my favorites(Eternal Sunshine of the Spotless Mind, Before Sunset, Incredibles, and Hotel Rwanda) got nominations for writing.