So, that's it, friends. It looks like we've gotten to see everyone worth seeing on the Red Carpet. Head over to our sibling site, Cinematical.com for their liveblogging of the Awards Show, and of course, make sure to stay tuned to Styledash through the next couple of days for recaps, including our Top 10 lists and a faboo video from gorgeous girl Brigitte Dale...

[Special thanks to Brad Hill for providing the live shots...]

5:12 PM - Okay, I change my mind about Jada Pinkett Smith. Maybe the lighting during the day was too harsh for her gown and made it look like mustard. The dress looks more like a deep bronze-y yellow and looks pretty fabulous on her toght little body.

5:01 PM - We're switching to ABC, which has the last 20 minuted before the Awards show starts. Lisa Ling is talking to Nicole Kidman and Naomi Watts in a banana yellow strapless dress with little sleeves looks adorable, especially with that old school Hollywood hair.

4:57 PM - So far, who is looking the best?

• Penelope Cruz
• Helen Mirren
• Beyonce Knowles
• Nicole Kidman
• Rachel Weisz

4:53 PM - From the waist up, Faye Dunaway looks good with black sheer long sleeves and upper chest over a black bodice, but what is up with that inner tube thing on the hem of her skirt? And honestly, she's a little too old to wear her hair so long and down like that.

4:51 PM - Okay, Meryl looks kind of bad. Whatever black sack she's wearing, she also didn't accessorize very well. Not that orange and turquoise beads are bad, but on the red carpet?

4:47 PM - Meryl Streep in the background. Can't see what she's wearing completely, but she's looking kind of tribal. Reese Witherspoon in a deep eggplant strapless dress with assymetrical layered skirt. Beautiful, but seriously, all, it feels like everyone just ran out of time in getting ready and forgot to put on jewelry.

4:37 PM - Nicole Kidman looks stunning in a bright red dress and clearly the woman has been hitting the gym, but she has some crazy huge bow on her right shoulder. Cate Blanchett, Best Supporting Actress Nominee. Wearing Armani dress in pewter colored beaded gown with one shoulder. Queen Latifah, you own the red carpet in a simple black dress (Carmen Marc Valvo) and smooth sleek hair worn down. Kate Winslet in same color dress as Beyonce, with horizontal gathering at he bust, one shoulder with long sash over left shoulder. It's Valentino.

4:33 PM - Mark Walhberg (nominated for Best Supporting Actor, The Departed) looking fab, of course, and his date in a navy blue dress (yes, navy blue again!) with sparkling all the way across the chest. Gwyneth Paltrow in a salmon colored dress by Zac Posen with stick straight hair worn down. Fire engine red lips is so totally wrong with the dress.

4:26 PM - Anne Hathaway with beautiful updo of hair, but do not love the strapless ivory beaded dress with what looks like a giant black bow attached to the bodice - Valentino, jewelry by Van Cleef. Just got a peek at Beyonce Knowles in a super light seafoam/mint green Armani. One shoulder that looks like a Miss America sash. Eddie Murphy's date's silvery gray dress could have been pretty except that it has full mirrors at the neckline. That dress would look pretty awesome if that breastplate were gone and were just a strapless dress.

4:23 PM - Kirsten Dunst is the biggest StyleFoul so far. Light gray does not work as a color for her, and the beading and feathers on the dress is just straight up ugly. Gray sheer top with a wide neckline that has a tiny collar? Her hair is HORRIBLE.

4:21 PM - Navy blue is the new black.

4:15 PM - OK, I'm about to fall over. Ryan Seacrest just flashed his Calvin Klein underwear. Forest Whitaker looks adorable and his date in bright yellow gown with a fishtail looks awesome. Speaking of forest, Celine Dion in forest green sleeveless dress with deep V - it's James Gallanos for Lilli. Her hair all loose looks pretty.

4:03 PM - Helen Mirren looks positively radiant in ivory, gold, and Champagne colored lace bodice with a pretty deep neckline - showing quite a bit of cleavage! The skirt is some odd yellow floral print that's not great.

4:01 PM - Giuliana and Jay think Cameron Diaz looks amazing? I must have missed something. Ok, looking at Penelope Cruz again, I think she should have done her hair a little less sleek so her ears don't stick out so much.

3:59 PM - John Travolta and Kelly Preston in D&G leopard print dress that's straight across the chest with straps that originate from center and opens like a V. Judith Ripka gold jewelry. John Travolta looks good in a classic tux with bow tie.

3:56 PM - Rachel Weisz in a Champagne colored, strapless Vera Wang that's embellished with bling across the chest. Gorgeous sparkling pendant.

3:54 PM - Back to Penelope Cruz, nominated for Best Actress. Dressed in Versace, diamonds by Chopard. The dress is definitely Versace in the bodice, almost looks like Madonna of the cone bra era, but definitely am not loving that weird ruffle feather full skirt.

3:50 PM - Cameron Diaz in a white Valentino off-the-shoulder dress that is a little too flappy at the neck, but that smile makes up for it (even though her bed head hair doesn't). Jessica Biel has the most interesting dress so far, since it's HOT pink Oscar de la Renta, high neck, showing off her amazing shoulders, but what a shame with that black belt. Unfortuantely, she also matched her makeup to her dress, with bright pink cheeks and lips. Atrocious. Jada Pinkett looks pissed, probably because she realized that her mustard yellow dress is really uncomfortable - looks like a knight's armor.

3:47 PM - Jennifer Hudson, you are one hell of a woman, and that mocha colored dress is probably gorgeous on you, but why are you hiding it under that ridiculous gold pair of football shoulder pads!??!

3:44 PM - Emily Blunt (royal blue strapless gown, but again, where is the jewelry?) and Michael Buble might be the cutest pair on the red carpet.

3:40 PM - JLo, you done good this year. Looks fabulous in a peachy pink draped dress with some incredible bling on the dress at he neckline and on chest. Short, curly hair. Just caught a glimpse of Penelope Cruz in a dress that's a similar pale pink/peach color. I think the bun wrapped in a braid on the back of her head, um, looks bigger than her head.

3:38 PM - Catherine Deneuve in her black dress - the straight-across neckline makes her a little, um, big.

3:33 PM - Oh, mama, love the black lace strapless dress and retro wavy hair pulled back but the severe wings on eye makeup has got to go on Rinko Kikuchi. Yes honey, we know you're Asian. Again, no necklace, and earrings that are a little small, especially with hair pulled back like that.

3:22 PM - Jodie Foster in a periwinkle Vera Wang gown with short hair, looking pretty good, but needs more jewelry - her earrings are hidden under her hair and isn't wearing a necklace. In fact, there is a noticeable lack of bling on the red carpet so far. Portia diRossi's got her hair in teeny tiny braids and pulled back in a ponytail, kind of matching the neckline on her deep ink blue dress - a thick braid wrapped around the neck that's a sort of halter.

3:20 PM - Debbie Matenopoulos, do you eat? Wow, she actually admitted that she doesn't eat. No wonder her scapula and clavicles are about to burst out of her skin.

3:16 PM - OH NO. What is wrong with Melissa Rivers' bangs? Okay, and now I know why Joan had sunglasses on earlier - are her eyes even open?

3:12 PM - Keith Robinson of Dreamgirls with a shiny silver tie looks great.

3:10 PM - Maggie Gyllenhall in a black Proenza Schouler dress with one shoulder, apparently there are feathers somewhere on the skirt, and she's got a few in her hair. Dress is gorgeous, but she looks a little unhappy. Wow, her hair and jewelry are a little too plain for her dress. In fact, from the neck up, Maggie just looks like she's going out for lunch and shopping.

3:08 PM - Ryan Seacrest with James McEvoy from the Last King of Scotland. Does an accent count as a killer accessory?

3:03 PM - Whoa. Joan Rivers is wearing a pet, and it's a teeny bit annoying that she's doing commentary with sunglasses on.

3:01 PM - Giuliana Depandi's olive drab dress with criss-cross straps across the chest is really, really ugly.

2:55 PM - From the TV Guide channel -- "this is the SuperBowl of Entertainment." Gee, ya' think? And a question for the readers...which red carpet coverage are you watching? Joan and Melissa on the TV Guide Channel? The broadcast on ABC? Ryan and Giuliani on E!? We've got all three.

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Where will you be this coming Sunday evening? Having your usual roast chicken and potatoes for dinner with your family? Getting ready for the week ahead? For goodness' sake will you be sitting at your desk checking email and working?!?

If you do plan to be at a computer on Sunday night when everyone else will be watching with bated breath as Oscars are handed out left and right, then save this page! We'll be liveblogging the red-carpet arrivals, sighing over ball gowns that take our breath away, pointing and laughing at fashion atrocities, and generally just having fun. We'll start at 6pmEST / 3pmPST. Of course, we'll also have recaps in the few days following ...

We're counting down to 3pm PST/6pm EST when we start liveblogging all the action on the red carpet. No, we're not there, but we're following three channels of coverage.

See you in a few minutes!