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After the Oscars took a gamble last year and asked Anne Hathaway and James Franco to host the show, the Academy is going back to an old favorite this year, Billy Crystal.

Oscar producer Don Mischer tells HLN’s Showbiz Tonight that you should expect to see the eight-time Oscar host to be just as funny as ever. “We are really making a commitment to doing comedic material which really helps the evening you know stay alive and interesting and go quickly,” says Mischer.

Crystal has been busy on Twitter trying to drum up interest in the show. He tweeted on Thursday, “#Oscars are a few days away. Tonight I might tweet winner of best supporting actor. Really, who can stop me?”

Brad Pitt vs. George Clooney

The best buds are competing in two categories this year. During the show the two will go head-to-head in the Best Actor category. Pitt is nominated for his role in “Moneyball” and Clooney is nominated for his work in “The Descendants.” Before the show, the two Hollywood hunks will walk the red carpet with their lovely ladies. So, who will win the best couple award? Will Angelina shock us all in a plunging v-neck dress and steal the title? Or will Clooney and his girlfriend Stacy Keibler steal the show?

The Underdogs

While everyone is talking about the heated race for Best Actress between “The Iron Lady’s” Meryl Streep and “The Help’s” Viola Davis, there are some people rooting for this year’s underdogs. Melissa McCarthy surprised a lot of people when she was nominated for Best Supporting Actress for her role in “Bridesmaids.” The 41-year-old actress has been around for a while, but this is her first Oscar nomination. A lot of people are rooting for her to take home the gold for her scene-stealing performance of a raunchy and aggressive bridesmaid.  

Another first time nominee that has everyone talking is Jonah Hill. The “Superbad” star made a departure from his normal comedy roles and was rewarded this year with a lot of award show love for his performance in “Moneyball.”

The Parties

After the awards are handed out the celebrities head out to get their party on at some of Hollywood’s hottest parties of the year. The Governors Ball is the Oscar’s official after party. Famed chef Wolfgang Puck will once again be whipping his culinary masterpieces. Recent Grammy winner Tony Bennett will be performing at the classy bash.

Over at the Vanity Fair party it’s all about the people watching. Not only does the Vanity Fair party boast a guest list full of who’s who in Hollywood, it’s also the place for celebs to brag about their relationships. Jennifer Aniston made her first public appearance with then-beau John Mayer in 2009. Just last year, Justin Bieber and Selena Gomez got everyone talking when they took their relationship public with some PDA at the party. Could Justin Timberlake and Jessica Biel use the party to make their engagement official?