It didn't take long for Twitter to implode with the usual influx of angry reactions, with critics and filmgoers alike complaining that their faves got robbed, but overall was this a better or worse than average year for the Academy?
On the plus side, the 'Best Picture' race is looking far more interesting than last year's exceptionally bland and largely US-centric list, with both a foreign film - Michael Haneke's shattering Amour - and a first feature - Benh Zeitlin's Beasts of the Southern Wild - in the running.
But enough with the positivity. Here's Digital Spy's rundown of the Academy's most egregious snubs this year.
While some people were never convinced the James Bond franchise could overcome its historical lack of awards success, there was some real hope this year that Sam Mendes's elegant, cerebral and sharp-witted Skyfall could buck the trend. Adding insult to injury after the comparative lack of love it received in yesterday's BAFTA nominations, the film managed just five nominations in largely minor categories. Adele's theme was always a shoo-in, while it's cheering to see Roger Deakins rewarded for the ravishing cinematography that defined so much of Skyfall's tone.
There will always be debate about just how good Daniel Craig really is as Bond. Is he giving an icily restrained and emotionally specific performance that allows Bond to be both man and machine? Or does he just frown a lot and look great in a suit? We're in the first camp, but nonetheless it's easy to understand why Craig lost out in a category that's always hotly contested.
But Academy fave Javier Bardem needed a 'Supporting' nod for his singularly sinister Raoul Silva, and Academy fave Mendes equally deserved attention for just how gracefully he pulled together the disparate elements of anniversary-spirited franchise fun, muscular action and emotional heart. And finally, we're with Mark Kermode - Skyfall should have filled that tenth 'Best Picture' spot.
Paul Thomas Anderson's portrait of a traumatised veteran finding meaning in a Scientology-like cult was never going to be a crowd-pleaser, with its meandering narrative and its alienated, alienating characters. But it's the kind of daring, uncompromised vision that the Academy could do with recognising more often. Anderson understands the relationship between visuals and emotions better than just about any director working today, pouring uneasy meaning into every beautifully-composed frame, and the idea that neither he nor his director of photography Mihai Malaimare, Jr warranted a nod is laughable.
If we had our way The Master would be up for 'Best Picture' too, but that snub was at least less of a surprise. For whatever reason, awards bodies from the Globes to the BAFTAs have chosen to recognise the film solely for its three lead performances, and for that at least we can be grateful.
Kathryn Bigelow (Zero Dark Thirty)
We challenge anybody to watch this sharply composed, emotionally disciplined and nail-bitingly tense chronicle of the decade-long hunt for Osama Bin Laden, and suggest that it isn't one of the five best directed films of the year. There will always be an inherent problem with having ten 'Best Picture' nominees opposite only five for Best Director - expressed by the oft-uttered phrase, "What, so [Insert Title Here] directed itself, did it?" But Bigelow and her screenwriter Mark Boal really do come as a close-knit unit, having collaborated on 2010's Oscar-scooping The Hurt Locker, and honouring him with a 'Screenplay' nod without acknowledging Bigelow simply doesn't work. Yes, she won for 'Director' two years ago, but Daniel Day-Lewis's inclusion in the 'Best Actor' field shows that recent Oscar history has no impact on your chances, unless you happen to be a lady.
Ben Affleck (Argo)
Much like Bigelow, Argo is in for 'Best Picture' but Affleck is left out in the cold. Given it's only his third outing as director, Argo was a remarkable feat, gracefully blending political thriller with Hollywood satire to tell the story of an unorthodox CIA plot to free six hostages during the Iranian revolution. It's leaps and bounds ahead of either Affleck's previous films, and while strong performances and Chris Terrio's smart-mouthed script undoubtedly helped, so much of what works about Argo is solely down to Affleck's handle on his material, from pacing to tension to the use of grainy film stock to evoke the tone of a 1970s political thriller. It's time we all forgot about Daredevil - the guy deserves a nod.
Leonardo DiCaprio (Django Unchained)
You nominated him for Blood Diamond, guys. BLOOD DIAMOND. Christoph Waltz was deservedly recognised for his turn as a sharp-tongued, principled bounty hunter in Django Unchained, but DiCaprio's savage and terrifying commitment to the role of slave trader Calvin Candie would have been a worthy competitor. Leaving him out for last year's misjudged J Edgar, we understood, but it's unfortunate that the point at which DiCaprio started giving genuinely interesting performances also seemed to be the point at which the Academy lost interest.
Jean-Louis Trintignant (Amour)
Much like John Hawkes in The Sessions, Trintignant lost out while his female co-star was recognised, despite the fact that his role is in many respects far more demanding. Playing a woman gradually losing control of her body and mind after a stroke, Emmanuelle Riva is heartbreaking to watch, but as her husband it's Trintignant who shoulders much of Amour's unflinching, brutal emotion as her stoically loving husband.