But, just like last year, Oscar nomination joy across Hollywood was balanced out by glum faces for others.
In some of those cases, we understood why they might have felt slighted. To give some love to those who missed out on the Academy's votes, we present Digital Spy's Alternative Oscar Awards. Read on for our nominees and winners.
Rust and Bone
Skyfall - WINNER
Berberian Sound Studio
The Dark Knight Rises
The Hunger Games
And the Alternative Oscar goes to... The Academy doesn't seem too keen on superheroes, even when they're dressed in a snazzy suit. Its treatment of Skyfall suggests that 007 may have accidentally blown up a few voters' homes in his time.
After the success of the edgy Casino Royale, Quantum of Solace ran off with the baton in the wrong direction - but in its 50th anniversary year, Skyfall managed the seemingly impossible mix of classic kitsch and "proper filmmaking".
Sure, the Broccolis don't need an Oscar, but when marquee moviemaking is done this well, it deserves to be applauded.
Daniel Craig (Skyfall)
John Hawkes (The Sessions)
Matthew McConaughey (Killer Joe)
Toby Jones (Berberian Sound Studio)
Jean-Louis Trintignant (Amour) - WINNER
And the Alternative Oscar goes to... While Daniel Craig's Bond definitely deserved a shout (see above) and his countryman Toby Jones is always brilliant, we couldn't look past Jean-Louis Trintignant.
Emmanuelle Riva rightly earned the honour of being the oldest ever contender for the 'Best Actress' prize in the same movie - the Academy loves a physically demanding performance - but we think the key to the heart(break) in Amour is the part played by Trintignant.
The pain and tragedy of old age, sickness and death sometimes seems hardest for those left behind trying against all the odds to keep hold of the pieces, and we think that Trintignant's performance even had the edge over his co-star. He had us sobbing in the aisles.
Marion Cotillard (Rust and Bone) - WINNER
Jennifer Lawrence (The Hunger Games)
Juno Temple (Killer Joe)
Mary Elizabeth Winstead (Smashed)
Emily Blunt (Your Sister's Sister)
And the Alternative Oscar goes to... We'll whisper this, but despite being the favourite to pick up the prize for her fine display in Silver Linings Playbook, we actually preferred the strength of Jen's iron-fist-in-a-velvet-glove performance in The Hunger Games.
But like the Academy voters, we're also suckers for a performance boasting raw physicality, and Marion Cotillard combines that here with her usual strengths in so-believably projecting her character.
We think that a second 'Best Actress' gong for Marion to nestle alongside her prize for La Vie en rose will rightly highlight how capable she is and how broad that ability is.
Kathryn Bigelow (Zero Dark Thirty) - WINNER
Tom Hooper (Les Misérables)
Ben Affleck (Argo)
Christopher Nolan (The Dark Knight Rises)
Sam Mendes (Skyfall)
And the Alternative Oscar goes to... We've noticed that a lot of our Alternative film nominees have of course been recognised by the real Academy in other categories, but when you've got nine 'Best Picture' nods and only five for 'Best Director', there's bound to be some crossover.
The impressive Ben Affleck is the People's Champion here and he certainly came close for us, but Kathryn Bigelow pulled off an even more impressive feat by making a 2.5-hour movie about a ten-year period that maintained its tension throughout, especially in its taught final operations scenes.
We ignored the kerfuffle over the "condoning of torture" (short answer: it doesn't) and think that even if the Academy hasn't recognised the existence of a second female director just yet, they made a mistake not giving the first they've acknowledged another statue.
Best Supporting Actor
Michael Fassbender (Prometheus) - WINNER
Dwight Henry (Beasts of the Southern Wild)
Tom Hiddleston (The Avengers)
Leonardo DiCaprio (Django Unchained)
Javier Bardem (Skyfall)
And the Alternative Oscar goes to... If we had an Oscar for 'Most Disappointing Movie' it would probably go to Prometheus. Somehow over-long and over-edited. Too flippant and too self-regarding. A script so off-puttingly high-minded and incredibly hokey.
But that doesn't mean we have to throw out the David with the bathwater. In our Alternative universe, Michael Fassbender follows his 2012 win for Shame with another award.
Cool, detached (from his body at one point), but utterly menacing at the same time, from the wreckage of Prometheus Fassbender emerged with his reputation as the finest actor of his generation enhanced, rather than diminished.
Best Supporting Actress
Kristin Scott Thomas (Salmon Fishing In The Yemen)
Nicole Kidman (The Paperboy)
Samantha Barks (Les Misérables) - WINNER
Elizabeth Olson (Liberal Arts)
Judi Dench (Skyfall)
And the Alternative Oscar goes to... If there's anything in life that's a dead cert, it's that Anne Hathaway will be adding an Oscar to her mantelpiece for her tearjerking turn as Fantine in Tom Hooper's Les Misérables.
But watching the movie, we were equally mesmerised by Samantha Barks damn well living the role of Éponine. A woman who came third in Andrew Lloyd Webber's reality TV show I'd Do Anything rubbing shoulders with - and frequently outclassing - her superstar castmates in her first movie role.
While she's probably more than happy wowing thousands each year on the stage, we hope that Les Mis is a springboard for Samantha for future film hits - what price a major part in the long-awaited Wicked adaptation...?
Who would win your Alternative Oscars? Let us know in the comments box below.