It's every film buff's favourite bloodsport and this year's Oscar nominations certainly didn't disappoint.
This year has given us a film that has broken the Academy's nominations record.
There were at least two surprising acting snubs.
There was also a good smattering of international films in the major categories.
But what do this year's nominations say about the races in the main categories?
Pomona gives you its penny's worth.
BEST PICTURE
Bugonia
F1
Guillermo del Toro's Frankenstein
Hamnet
Marty Supreme
One Battle After Another
The Secret Agent
Sentimental Value
Sinners
Train Dreams
The ten films on this shortlist include one summer blockbuster, two movies not fully in the English language and a record breaking vampire film.
However only three of the ten have emerged as frontrunners in this contest.
The movie out in front at this stage is undoubtedly Paul Thomas Anderson's mesmerising satirical revolutionary tale 'One Battle After Another' which picked up the top prize at the Critics Choice Awards recently and Best Picture (Comedy) at the Golden Globes.
Second favourite is Chloe Zhao's heartbreaking tale about William Shakespeare's family 'Hamnet' which won Best Picture Drama at the Golden Globes.
However don't count out Ryan Coogler's superb horror movie 'Sinners' which smashed the Academy Awards record for the most nominations ever with 16.
The attention that that will bring to Coogler's film could give it some momentum in the run up to awards night.
It's good to see two Best International Feature nominees, Joachim Trier's Norwegian family drama 'Sentimental Value' and Kleber Mendonco Filho's Brazilian thriller 'The Secret Agent' contending for the top prize.
Josh Safdie's 'Marty Supreme' landed a nomination, as expected, but it seems a long shot and likewise for 'Guillermo del Toro's Frankenstein's.
It's nice that Clint Bentley's achingly beautiful 'Train Dreams' is also in there alongside Yorgos Lanthimos' 'Bugonia' and perhaps the biggest surprise of all, Joseph Kosinski's motor sport blockbuster 'F1'.
However dissident Iranian director Jafar Panahi's Cannes Film Festival winning 'It Was Just An Accident' was a surprise surprise omission, while the failure of Jon M Chu's 'Wicked: For Good' to land nominations in this and other major categories illustrates how Oscar bait can quickly appear unappetising.
BEST DIRECTOR
Chloe Zhao (Hamnet)
Josh Safdie (Marty Supreme)
Paul Thomas Anderson (One Battle After Another)
Joachim Trier (Sentimental Value)
Ryan Coogler (Sinners)
The nominations in this category mirrored the shortlist in the Directors Guild Awards, with Anderson emerging as the frontrunner with his fourth nomination in this category.
Once again, do not underestimate first time directing nominee Ryan Coogler's ability to deny Anderson the directing statuette.
Chloe Zhao would normally be considered a formidable presence in this category with her indisputably powerful period drama 'Hamnet'.
However the fact that she already has a Best Actor Academy Award in her cabinet for 'Nomadland' could actually count against her.
Joachim Trier deservedly netted a first ever nomination in the category, while Josh Safdie picked up a nod in his first solo directing gig since he made 'Uncut Gems' with his brother Benny.
This meant Palme d'Or winner Jafar Panahi and Brazilian director Kleber Mendonco Filho probably got edged out in the category for 'It Was Just An Accident' and 'The Secret Agent'.
Guillermo del Toro probably felt he had a decent claim for a nomination for the well received, if overrated 'Frankenstein,' while Clint Bentley for 'Train Dreams' and Richard Linklater for 'Blue Moon' would have been good choices but were always long shots.
BEST ACTRESS
Jessie Buckley (Hamnet)
Rose Byrne (If I Had Legs I'd Kick You)
Kate Hudson (Song Sung Blue)
Renate Reinsve (Sentimental Value)
Emma Stone (Bugonia)
At this stage, this category looks like 'Hamnet' lead actress Jessie Buckley's to lose with Critics Choice and Golden Globe Drama Best Actress Awards already in the bag for the Kerry woman.
However March 15 is a long way away and there is still a lot of campaigning to be done.
There's still time for the Australian first time nominee Rose Byrne to mount a strong campaign after winning the Best Actress Comedy Golden Globe for Mary Bronstein's psychological comedy drama 'If I Had Legs I'd Kick You'.
In a normal contest, though, Norwegian actress Renate Reinsve would also be in the mix for her performance as a fragile actress in 'Sentimental Value' which has earned her her first ever nomination. However she seems a distant third.
Twenty five years after she landed a Best Supporting Actress nod for her role in Cameron Crowe's music industry comedy drama 'Almost Famous,' Kate Hudson has picked up her second Oscar nomination as a singer in a Neil Diamond tribute act in Craig Brewer's biographical drama 'Song Sung Blue'.
However she and two time Oscar winner Emma Stone look like they are making up the numbers, with the latter earning the fifth nomination of her career for playing a kidnapped CEO in Yorgos Lanthimos' black comedy 'Bugonia'.
Their nominations came at the expense of Chase Infiniti who many believed might have landed a nomination for 'One Battle After Another'.
Cynthia Erivo must have harboured hopes of another nomination for 'Wicked: For Good' and possibly Amanda Seyfried as well for playing the founder of the Shakers in Brady Corbet's historical music drama 'The Testament of Ann Lee'.
Buckley though, is undoubtedly the clear favourite for her astounding performance as a grieving mother in 'Hamnet' but can she keep the Oscar momentum blowing in her direction in the weeks ahead?
BEST ACTOR
Timothee Chalamet (Marty Supreme)
Leonardo diCaprio (One Battle After Another)
Ethan Hawke (Blue Moon)
Michael B Jordan (Sinners)
Wagner Moura (The Secret Agent)
With his digital campaigning for awards glory, it came as no surprise to see Timothee Chalamet emerge as the favourite to make it third time lucky in this category for his energetic turn as a dislikable ping pong player in 'Marty Supreme'.
After all, he has already bagged Critics Choice and Golden Globe statuettes this awards season but could his brazen pursuit of Oscar glory spark a bit of a backlash?
If so, who's his biggest threat?
Leonardo diCaprio is a possibilty for his delightfully Jack Nicholson-esque turn as a shambolic revolutionary in 'One Battle After Another'.
Golden Globe winner Wagner Moura is also a decent shout for his acclaimed performance as an academic caught up in political intrigue in 'The Secret Agent'.
Or could Michael B Jordan's performance as gangster twins get a boost from all the attention 'Sinners' will get for breaking the Oscar nominations record?
Ethan Hawke's inclusion on the list will be popular for his acclaimed turn as the musical lyricist Lorenz Hart in longtime collaborator Richard Linklater's biographical comedy drama 'Blue Moon' - his first ever acting nomination.
Like Jessie Buckley, though, this looks like Chalamet's to lose and he will need to tread very carefully in the coming weeks to avoid irritating voters.
Jeremy Allen White, though, should rightly feel aggrieved that his excellent performance as Bruce Springsteen in Scott Cooper's 'Springsteen: Deliver Me From Nowhere'.
Dwayne 'The Rock' Johnson will be disappointed that his pitch for awards season attention in Benny Safdie's 'The Smashing Machine' fell on deaf ears, while Joel Edgerton should feel unlucky not to have been rewarded for his superb lead role as a haunted railway construction worker in 'Train Dreams'.
BEST SUPPORTING ACTRESS
Elle Fanning (Sentimental Value)
Inga Ibsdotter Lileass (Sentimental Value)
Amy Madigan (Weapons)
Wunmi Mosaku (Sinners)
Teyana Taylor (One Battle After Another)
It's great to see 'Sentimental Value' deservedly landing two nominations in this category for first time nominees Elle Fanning and Inga Ibsdotter Lileass.
However neither are frontrunners in this category - even though Lileass deserves to be.
This looks like a three way contest between Madigan who won the Critics Choice Award, Taylor who won the Golden Globe and the Nigerian English born actress Mosaku who will be relying on a big swing behind 'Sinners' over the coming weeks.
The SAGs and BAFTAs will ultimately give us an indication as to who is the likely favourite on March 15.
Conventional wisdom says it will be Madigan for her performance as a relative of Julia Garner's under fire schoolteacher in the mystery horror film 'Weapons'.
However Taylor is a strong contender too for her performance as a cocky revolutionary in 'One Battle After Another,' while Mosaku must be in the hunt for her turn as the Hoodoo practising estranged wife of Michael B Jordan's gangster Smoke Moore in 'Sinners'.
This is going to be a fun category to watch.
BEST SUPPORTING ACTOR
Benicio del Toro (One Battle After Another)
Jacob Elordi (Guillermo del Toro's Frankenstein)
Delroy Lindo (Sinners)
Sean Penn (One Battle After Another)
Stellan Skarsgard (Sentimental Value)
This is a bit of a humdinger of a category with five very strong performances.
Could two time Oscar winner Sean Penn and previous Best Supporting Actor winner Benicio del Toro's dual nominations for 'One Battle After Another's cancel each other out? Possibly.
Is it feasible that London born first time nominee Delroy Lindo could sweep to victory in a wave of affection for 'Sinners'? As we have already seen, that cannot be ruled out.
Will the Academy reward Australia's up and coming heartthrob Jacob Elordi who bagged a Critics Choice award playing the creature in 'Guillermo del Toro's Frankenstein'?
Or maybe the time has come to garland Swedish actor Stellan Skarsgard who delivers another fabulous performance as an errant father in 'Sentimental Value'?
This category is really hard to predict but if Skarsgard can add BAFTA and SAGs to his Golden Globe victory, he will be hard to resist.
The big shock in this category was the exclusion of Paul Mescal who looked like a very strong contender as William Shakespeare in 'Hamnet' and deserved to be on the shortlist.
Fellow Irishman Andrew Scott was always an outside bet for his performance as the musical theatre composer Richard Rodgers, while Jeremy Strong will be disappointed not to have bagged a second nomination in this category for playing Bruce Springsteen's manager Jon Landau in 'Springsteen: Deliver Me From Nowhere'.
BEST INTERNATIONAL FEATURE
The Secret Agent (Kleber Mendonco Filho, Brazil)
It Was Just An Accident (Jafar Panahi, France)
Sentimental Value (Joachim Trier, Norway)
Sirat (Oliver Laxe, Spain)
The Voice of Hind Rajab (Kaouther Ben Hania, Tunisia)
As ever, the Best International Feature category looks tremendously strong.
With nine nominations under its belt, Joachim Trier's 'Sentimental Value' must be the favourite, with this category looking like its best chance landing an Academy Award.
However it is far from a shoo-in with Kleber Mendonco Filho's highly respected thriller 'The Secret Agent' and Jafar Panahi's French Iranian thriller 'It Was Just An Accident' surely also in contention?
Many people will be delighted that Kaouther Ben Hania's inventive Gaza docudrama 'The Voice of Hind Rajab' landed a nomination and it will be fascinating to see how the Academy on awards night skips around a film that shines a harrowing light on Israeli actions.
Oliver Laxe's desert drama 'Sirat' also made the cut, probably at the expense of Park Chan-wook's much fancied, stylish South Korean thriller 'No Other Choice'and Shih-Ching Tsou's Taiwanese drama 'Left Handed Girl'.
BEST ANIMATED FEATURE
Arco (Ugo Bienvenu)
Elio (Madeline Sharafian, Domee Shi and Adrian Molina)
K-Pop Demon Hunters (Maggie Kang and Chris Appelhans)
Little Amelie or The Character of Rain (Mailys Vallade and Liane-Cho Han)
Zootopia 2/Zootropolis 2 (Jared Bush and Byron Howard)
It used to be that a Disney-Pixar winner was a certainty in this category.
But recent years have shown that that is no longer the case, with Netflix's 'Guillermo del Toro's Pinocchio,' Hayao Miyazaki and Toshio Suzuki's Studio Ghibli fantasy 'The Boy and The Heron' and Gints Zilabodis' Latvian climate change tale 'Flow' taking the prize in the last three contests.
With Critics Choice and Golden Globe victories already in the bag, Netflix and Sony Pictures Animation's popular musical animated tale 'K-Pop Demon Hunters' looks set to do it once again.
However the strong box office and critical acclaim for Disney's 'Zootopia 2/Zootropolis 2' means it cannot be ruled out.
Pixar's sci-fi adventure 'Elio' is probably in the glad to have been nominated in this category but looks like an unlikely champion.
Meanwhile France has an interest in two nominees - the sci-fi fantasy 'Arco' and the quirky Belgian co-produced but Japanese set tale 'Little Amelie or The Character of Rain'.
Its inclusion meant Alex Woo and Erik Benson's Netflix produced Critics Choice nominee 'In Your Dreams' failed to make the shortlist.
BEST ADAPTED SCREENPLAY
Will Tracy (Begonia)
Guillermo del Toro (Frankenstein)
Chloe Zhao and Maggie O'Farrell (Hamnet)
Paul Thomas Anderson (One Battle After Another)
Clint Bentley and Greg Kwedar (Train Dreams)
The screenplay categories often offer Academy voters the chance to honour Best Picture contenders that look like they may not take the top prize.
If that's the case, then Chloe Zhao and Northern Irish born author Maggie O'Farrell must be in with a strong shout for their adaptation of the latter's novel 'Hamnet'.
The problem is Paul Thomas Anderson's 'One Battle After Another' is also in their category and if momentum in the Best Picture race starts to galvanise around 'Sinners,' this could be the one opportunity to ensure he doesn't walk away empty handed at the 11th time of asking.
Bentley and Kwedar are thoroughly deserving of their nod and former 'Late Night With John Oliver' scriptwriter Will Tracy will be thrilled to have bagged a nomination after his Critics Choice nod, despite being frozen out of the Golden Globes.
del Toro always looked a certainty in this category, even if his version of'Frankenstein' underwhelmed.
However Park Chan-wook, Lee Kyoung-mi, Don McKellar and Jange Lee might be justifiably miffed not to pick up a nomination for 'No Other Choice'.
BEST ORIGINAL SCREENPLAY
Robert Kaplow (Blue Moon)
Jafar Panahi (It Was Just An Accident)
Ronald Bronstein and Josh Safdie (Marty Supreme)
Eskil Vogt and Joachim Trier (Sentimental Value)
Ryan Coogler (Sinners)
Going on the same theory about the screenplay categories, Best Original Screenplay looks like the best way to ensure Ryan Coogler walks away a winner on Oscar night.
'Sinners' would be a very worthy winner.
But so too would Joachim Trier and Eskil Vogt for 'Sentimental Value' or Jafar Panahi's 'It Was Just An Accident'.
Outside of the Best Actor race, this category looks like the best prospect for 'Marty Supreme' to pick up an award but in a hotly contested race that would be bit of a shock.
Robert Kaplow has done well to secure a nod for his script for Richard Linklater's 'Blue Moon' and should be content to make the shortlist
There was some surprise that Zach Creger didn't get a nomination for his hugely admired horror mystery 'Weapons,' while Kleber Mendonco Filho was another notable absentee.
However a nomination in this category for 'The Secret Agent' always felt a bit of a stretch.
OTHER NOMINATIONS
BEST ORIGINAL MUSICAL SCORE
Bugonia
Guillermo del Toro's Frankenstein
Hamnet
One Battle After Another
Sinners
BEST ORIGINAL SONG
'Dear Me' ('Diane Warren: Relentless')
'Golden' (K Pop Demon Hunters)
'I Lied To You' (Sinners)
'Sweet Dreams of Joy' (Viva Verdi!)
'Train Dreams' (Train Dreams)
BEST CINEMATOGRAPHY
Guillermo del Toro's Frankenstein
Marty Supreme
One Battle After Another
Sinners
Train Dreams
BEST FILM EDITING
F1
Marty Supreme
One Battle After Another
Sentimental Value
Sinners
BEST VISUAL EFFECTS
Avatar: Fire and Ash
F1
Jurassic World: Rebirth
Sinners
The Lost Bus
BEST SOUND
Guillermo del Toro's Frankenstein
F1
One Battle After Another
Sinners
Sirat
BEST PRODUCTION DESIGN
Guillermo del Toro's Frankenstein
Hamnet
Marty Supreme
One Battle After Another
Sinners
BEST COSTUME DESIGN
Avatar: Fire and Ash
Guillermo del Toro's Frankenstein
Hamnet
Marty Supreme
Sinners
BEST MAKE UP AND HAIRSTYLING
Guillermo del Toro's Frankenstein
Kokuho
Sinners
The Smashing Machine
The Ugly Stepsister
BEST CASTING
Hamnet
Marty Supreme
One Battle After Another
Sinners
The Secret Agent
BEST DOCUMENTARY FEATURE
Come See Me In The Good Light
Cutting Through The Rocks
Mr Nobody Against Putin
The Alabama Solution
The Perfect Neighbour
BEST DOCUMENTARY SHORT
All The Empty Rooms
Armed Only With A Camera: The Life and Death of Brent Renaud
Children No More: Were and Are Gone
The Devil Is Busy
Perfectly A Strangeness
BEST LIVE ACTION SHORT
A Friend of Dorothy
Butcher's Stain
Jane Austen's Period Drama
The Singers
Two People Exchanging Saliva
BEST ANIMATED SHORT
Butterfly
Forevergreen
Retirement Plan
The Girl Who Cried Pearls
The Three Sisters
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