Every year, Nick and Katy choose what films, actors, actresses, directors and songs should win an Academy Award. So for 2004, Rhodes and Krassner give the Oscar to:

BEST PICTURE

WILL WIN: Both Nick and Katy agree that LORD OF THE RINGS RETURN OF THE KING will win BEST PICTURE

SHOULD WIN: We agree - it should be LOST IN TRANSLATION, but sadly, it won't be

BEST DIRECTOR

WILL WIN: Katy & Nick say PETER JACKSON will win for LORD OF THE RINGS

SHOULD WIN: We think PETER should win too.

BEST ACTOR

WILL WIN: Katy says SEAN PENN will win for MYSTIC RIVER. Nick agrees.

SHOULD WIN: Once again, we agree - BILL MURRAY for LOST IN TRANSLATION but we would both be happy if JOHNNY DEPP got it for PIRATES

BEST ACTRESS

WILL WIN: CHARLIZE THERON will win for MONSTER. Agreement again!

SHOULD WIN: Nick says NAOMI WATTS should get it for 21 GRAMS. Katy has no opinion and both of us are still wondering why Scarlett Johnansen wasn't even nominated!!

SUPPORTING ACTOR

WILL WIN: We agree that TIM ROBBINS for MYSTIC RIVER will be accepting his Award on Sunday

SHOULD WIN: Nick says BENICIO DEL TORO for 21 GRAMS, Katy says ALEC BALDWIN (Long Island yo!) for THE COOLER

SUPPORTING ACTRESS

WILL WIN: Both agree that RENEE ZELLEWEGAR will get it for COLD MOUNTAIN, even though we didn't see the movie

SHOULD WIN: Since neither of us have a strong opinion, we are going to say SHOHREH AGHDASHLOO for THE HOUSE OF SAND & FOG

ORIGINAL SONG

WILL WIN: We're going with ANNIE LENNOX with "Into the West" from LORD OF THE RINGS

SHOULD WIN: Katy & Nick want Mitch and Mickey's KISS AT THE END OF THE RAINBOW from Christopher Guest's fabulous A MIGHTY WIND

ORIGINAL SCREENPLAY

WILL WIN: SOFIA COPOLLA!

SHOULD WIN: SOFIA COPOLLA!

SCREENPLAY ADAPTATION

WILL WIN: Nick & Katy give it to MYSTIC RIVER

SHOULD WIN: Katy & Nick are in near total agreement this year! AMERICAN SPLENDOR is our "should win"