Tracy -- I completely agree with you about this movie. I wanted it to win best picture but knew that Million Dollar Baby would. And I'm OK with that (loved that movie too). I ranked these two movies first and second in the Best Picture category and didn't care in which order they fell.
I didn't think Aviator was best picture quality when compared to these two but I did think it deserved all the costuming, art direction, etc awards. I also thought Leo DiCaprio and Cate Blanchett deserved their noms.
I liked Sideways -- but think that for some reason mid-life crisis is being too critically acclaimed lately, maybe all the critics are experiencing it! (wasn't a fan of Lost in Translation last year)
And, I haven't seen Ray -- so maybe this review is completely off! :)
By the way, I was most psyched that Eternal Sunshine of the Spotless Mind won best original screenplay. I am a big fan of Charlie Kaufman movies (which I recently just realized) for their originality and writing.