I've seen quite a few of the nominated pictures with Inception, Black Swan, The Social Network and The King's Speech, so I have a lot of opinions.
1) The least worthy picture, out of those I've seen, won with TKS, IMO. It was a good film with great acting(btw. Timothy Spall was ingenious), but it wasn't actually anything special and really a little overly sentimental.
2) The DEFINITELY least worthy director won. Nolan should have been nominated instead of him. Fincher or Aronofky should have won.
3) Colin Firth was fine, of course. Natalie Portman too.
4) Obviously TSN deserved to get some Oscars(Best Picture or Best Director perhaps), but Best Original Score? Was it a subtle masterpiece, so perfect you didn't even notice, because I hardly remember hearing any music at all, except when they were at a club. I suspect some deal with Reznor, because Idgi. Would have given it to Inception.
5) Holy shit, were Franco and Hathaway embarrassing, especially Hathaway, Franco was apparently just on drugs. Don't go under 40 with Oscar hosts and bring back Hugh Jackman!
To sum it up: