Favourite: The Hurt Locker

Dark horse: Avatar

Expanded to 10 films this year from the usual five, the race for best picture honours increasingly appears to be a shoot-out between Iraq war drama The Hurt Locker and science-fiction blockbuster Avatar.

If successful, The Hurt Locker will be the lowest-grossing best picture winner in Oscars' history with earnings of around $15 million. By contrast James Cam-eron's Avatar is the highest grossing film of all-time with more than $2 billion in earnings.

The introduction of a preferential voting system could possibly help Inglourious Basterds score what would be a monumental upset, but The Hurt Locker remains on pole position despite a slew of controversies which have engulfed the film in the final week of campaigning.

Best director

Favourite: Kathryn Bigelow (The Hurt Locker)

Dark horse: James Cameron (Avatar)

After virtually ignoring woman directors at 81 previous editions of the Oscars - only four women have ever been nominated for best director - the Academy is finally set to honour a female film-maker, Kathryn Bigelow.

The 58-year-old behind The Hurt Locker has already made history by becoming the first woman to win best director prizes at the Directors Guild of America Awards and Baftas.

Adding spice to the contest is the presence of Ms Bigelow's ex-husband James Cameron on the list of five nominees, leading some to dub the category as the "Battle of the Exes".

Other nominees include Jason Reitman for Up in the Air, Quentin Tarantino for his bloody World War II revenge fantasy Inglourious Basterds and Lee Daniels for his grim drama Precious.

Best actor

Favourite: Jeff Bridges (Crazy Heart)

Dark horse: George Clooney (Up In the Air)

Nearly 40 years after the first of his five career Oscar nominations, Jeff Bridges is expected to finally get his hands on one of the famous gold statuettes.

The popular 60-year-old has swept the awards season honours this year, winning Golden Globe and Screen Actors Guild Awards for his portrayal of the alcoholic country singer struggling to rebuild his life in the independent drama Crazy Heart.

It will be a major upset if Mr Bridges fails to add an Oscar to his trophy haul, although the ever-popular George Clooney remains a long shot for his performance in Up In the Air.

Other nominees include Britain's Colin Firth for A Single Man, Morgan Freeman for Invictus and Jeremy Renner for The Hurt Locker.

Best actress

Favourite: Sandra Bullock (The Blind Side)

Dark horse: Meryl Streep (Julie & Julia)

Sandra Bullock's performance in The Blind Side, where she plays a feisty southern matriarch who mentors a troubled teenager, helped the film rewrite box office history by becoming the first movie carried by a female lead to earn more than $200 million. It is also likely to earn Ms Bullock an Oscar.

However the best actress race is reported to be the closest of the major categories, with evergreen Meryl Streep nominated for a record 16th occasion for her performance in Julie & Julia.

Ms Streep, chasing her third Oscar, leads a pack of challengers to Ms Bullock which also includes young British star Carey Mulligan (An Education) and Gabourey Sidibe (Precious).

The fifth nominee is 2007 winner Helen Mirren, regarded as a long shot as her film The Last Station is not nominated in the best picture race.

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