Right ladies, it's the big one; nobody cares anymore how many times you got it right this award season, all anyone will remember from this point forward is how you faired on the 152m catwalk that was the 2011 Oscars red carpet.
You had all year to prepare, so we'll have no excuses. The world's most fabulous gowns were flown in for your consideration - still warm from the model's bodies they were ripped from New York, London and Milan fashion weeks - and a glam-squad, worthy of a special effects Oscar, preened and primped you into a flawless, younger, slimmer version of yourself.
So who got it right on Oscar night, and who went home with a sartorial Razzie?
BEST DRESSED: Gwyneth Paltrow
Gwyneth positively smouldered down the red carpet in a custom-made, sparkling gold, Calvin Klein Collection sheath dress. The Country Strong actress, who sang at the ceremony, put in the hours on the Caribbean beach (and with personal trainer Tracy Anderson), to make sure this slinky number hit all the right notes.
RISING STAR: Hailee Steinfeld
Best supporting actress nominee, Hailee Steinfeld, wowed us again with another flawless red carpet choice. The 14 year-old True Grit star is already topping our best-dressed list for 2011 and it's only February. Her age-appropriate, magical Marchesa dress (which she co-designed), made her look every inch the prom queen princess.
THE SURPRISE: Amy Adams
We saw a different side to Amy Adams, who normally favours a soft silhouette and delicate colours. Her sparkling blue L'Wren Scott gown showed off every inch of her enviable frame, while its high neckline, and her elegant 1940s coiffure, kept the look on the sophisticated side of sexy.
THE LADIES CHOICE: Mila Kunis
Black Swan star Milas Kunis' petite frame and minimal use of makeup and accessories, assured that her lacy lilac Elie Saab gown didn't fall into the 'fussy' category. Extra points for not picking a more obvious sex-bomb gown that her to-die-for figure could easily flaunt.
THE INDIVIDUAL: Florence Welch
Singer Florence Welch, who performed at the ceremony, scored a hit for Valentino in a girly cream lace, tiered gown that, on many women, could look too prim. Luckily Welch's boyish frame and untamed hair leant a rock & roll edge to her vintage look.
FASHIONISTA'S FAVOURITE: Cate Blanchett
You can always rely on Cate Blanchett to make a more fashion-forward selection during award season, so it was good to see her back on the Oscars red carpet making such a successful statement. Her embellished, off-white Givenchy haute couture gown by designer Riccardo Tisci, is just about the only dress from his small spring/summer collection that hasn't made a red carpet appearance since it was shown in Paris last month, making Tisci Hollywood's new go-to guy.
BAD BEGINNINGS: Anne Hathaway
Anne Hathaway made an uncharacteristic slip on the red carpet by coming as the matching curtains. The Oscars host made up for this bad start later in the evening, with a series of more successful selections, but this look is best forgotten.
STYLIST'S DAY OFF: Nicole Kidman
Kidman missed the mark in her complicated Christian Dior haute couture gown. The whole look came off as a personality crisis in motion and he usually reliable red carpet queen looked like she knew it. Small mercy then in Natalie Portman's triumph so that Nicole's look could slide under-the-radar of Oscars' history.
BOOBY PRIZE: Penelope Cruz
Cruz is usually such a master of awards dressing so we can only assume that this booby frock - which wouldn't look out of place on a cruise cabaret singer - is the result of 'baby brain', the cruel condition which renders new mothers incapable of good judgement calls. Don't worry Penny, we know you'll be back on fighting form next season, and your cleavage definitely won you some new fans.
THE CLASH: Jennifer Hudson
Although Hudson is to be highly commended for her general transformation, her orange Atelier Versace dress was doing bad things to our retinas and her cleavage. Last time we saw her at the Oscars, her ample bosom was squeezed into the shape of a rugby ball; this time her slimmer, trimmer breasts are just too… out there.
THE BIG SNOOZE: Reece Witherspoon
Reece, your choice of gown is never going to offend anyone, but sadly it's too boring to even comment on. Must try harder.