Why it will win:
Because it's an epic in the greatest tradition of Hollywood and it's the kind of movie everyone in the business wishes they could make.

"Ben Hur," "Gone With the Wind," "Lawrence of Arabia" -- They don't make them like that anymore. Wanna bet?

Why he'll win:
Director and Picture Oscars are almost always paired, but Cameron also enjoys the passionate admiration of his colleges after his highly-publicized "Titanic" penance. He sacrificed for his art -- taking tons of heat over post-production delays and refusing his director's salary when the film's budget went exponential -- and he was vindicated with critical acclaim and world-record box office receipts.

Why he'll win:
Because this is his best performance in years.

Recently Nicholson has become one of a select group of actors who are paid mostly just to show up. He's been doing nothing but being "Jack" for so long that to see him become this absorbed in a character reminds us of why he is a legend in the first place.

Why she'll win:
Because her pained, potent, affecting performance as a single mom who lives solely to provide for her sickly child shows definitively that Hunt is a major dramatic talent.

Bonham Carter, Christie and Dench all gave brilliant performances, as the Acadmey would expect of them, but Hunt left a lasting impression.

Why he'll win:
Because no one expected him to be that good.

In all honesty, this is the most up-for-grabs category this year, largely because the should-be winner -- Rupert Everett, the charming and hilarious gay sidekick in "My Best Friend's Wedding" -- was snubbed in favor of the vastly inferior Kinnear in much the same role. But Hopkins doesn't need another Oscar, Williams' hermit-shrink was great only because director Gus Van Sant kept him on a very short leash and sentimental favorite Forester was fine in "Jackie Brown," but forgettable.

Why she'll win:
Because, to quote "In & Out" screenwriter Paul Rudnick, "she is helplessly funny."

Stuart is, of course, a sentimental favorite. But when the Academy gives an Oscar to a long-time veteran it's usually tantamount to a lifetime achievement award, and the "Titanic" co-star hasn't worked in years. Moore is just as deserving as Cusack, but she is hugely talented and bound to be nominated again. Driver's nomination for essentially playing a high-IQ twist on the standard girlfriend role was a fluke, as was Basinger's spot-on performance in "Confidential" (although she is the only other nominee with a real shot).

Why it will win:
Dialogue, dialogue, dialogue. This film is almost all conversation, and every moment of it is riveting and genuine. Besides, Affleck and Damon are currently Hollywood's most visible, and charming, rising stars.

Why it will win:
Because the movie is even better than the book. Rewardingly intelligent and written with incredible period detail, this script did such justice to James Ellroy's novel that even the notoriously hard-to-please author loved the film.

However, don't completely count out "Wag the Dog." The Academy loves a wicked satire, and this is a dog bites.

Why it will win:
Because the set director even had the silverware monogrammed for the sake of authenticity. No film has ever gone to the lengths "Titanic" did to bring a place to life.

In any other year, the gorgeous "Confidential," uber-modern "Gattaca" or panoramic "Kundun" would be neck-and-neck, but even at the Oscars, the "Titanic" juggernaut is unstoppable.

Why it will win:
"Confidential" and "Kundun" are equally qualified, but sheer momentum will carry the doomed-boat movie to many a technical Oscar, including this one.

Why it will win:
Because James Cameron dropped all the subplots and stayed focused.

"Titanic" is an amazingly tight three and a quarter hours and, unlike every other disaster movie ever, there's only one story -- the one people care about.

Why it will win:
Momentum again. But in this category, the win is earned. Cameron poured over every technical detail of his picture and the sound design did as much to take you inside this story as anything you see on the screen.

Why it will win:
There is always one clear winner in this category, and "Titanic" sets a new standard for special effects like no other film has since "Star Wars."

Why it will win:
Authenticity. Like its Art Direction, the costumes in "Titanic" boast incredible hours of research and the most remarkable detail. Designer Deborah Scott even went to the trouble of sewing costumes with beads from dresses worn by survivors of the real sinking.

Why it will win:
Vincent D'Onofrio's slip 'n' slide skin.

Special effects makeup always wins in this category, and the alien wearing a dead farmer as an ill-fitting shell was the creepiest, funniest effect of the year.

Why it will win:
A moving story, a history lesson and besides Spike Lee is the only black nominee, which has been a thorny PR issue for the Academy in the past.

Why it will win:
Because it's the most accessible film for American audiences. It even stars an American, Alan Arkin.

Why it will win:
Because the sound of rushing water and the ship breaking in half echoes in our heads even now.

Why it will win:
When was the last time you left a movie humming the incidental music? When was the last time a soundtrack of incidental music topped the charts?

Why it will win:
I'm guessing. Honestly, I have no idea.

Why it will win:
Because when you hear it, you think of the movie.

Even if this tune gets on your nerves, you gotta admit it causes flashbacks, even if you manage somehow to hear it on the radio without those annoying audio drops that Top 40 stations are playing on top of the music.