The annual celebrity parade of red carpet amazingness is just getting underway.

The ceremony might not start until 8:30, but we all know the show startsnow.

Margaret Lyons:Who are you most looking forward to seeing tonight?

Giulianarancic_l

Lindsay:Those two choices are mostly due to fashion reasons.

Margaret:Im really curious about what Anne Hathaway is going to wear.

Margaret:And really curious about what Mickey Rourke is going to say.

Im sure Rachel Zoe and her minions picked out something fab

Margaret:Heres Ryan!

Explaining how walking works!

Lindsay:Well you know, its quite difficult to walk for those in Hollywood.

Margaret:He … uh … dazzled audiences at the Independent Spirit Awards last night.

Homeboy has a potty mouth.

Lindsay:Ooh, I like Giulianas red dress.

Margaret:I dont think the top fits very well.

Lindsay:Thats probably because she doesnt eat.

Unlike me Im anxiously awaiting food delivery.

Someones pregnant in Hollywood!

why is Nicole Ritchies name even being brought up?

Hello, this is a legit event.

Margaret:Its Miley!

Lindsay:Ha, jinx!

Margaret:Im saying that in my bestThe Soupvoice.

Lindsay:Okay, wow, that just went over my head.

Lets rewind back to Miley.

Lindsay:That was a lot of sparkle for a teen.

Margaret:Its … a lot of dress.

Margaret:When did Ryan stop being blond?

Lindsay:I wonder if she knows how much the dress weighs.

Lindsay:Stylists should provide that info.

And my barbecue cuisine needs to arrive during a commercial break.

Margaret:A hundred thousand pounds?

Lindsay:That dress must provide a good workout.

Lindsay:Wonder who shes star stalking and nevermind: Angelina!

Margaret:Im crying tears of throw-up.

This is easily the most grating interview in the history of red carpet interviews.

Lindsay:And its making me excited for whats to come!

Margaret:Ooooooh, Virginia Madsen!

Margaret:Also, he needs to shampoo.

Hygiene is your friend, Emile.

Lindsay:He took more lessons away fromInto The Wildthan we thought.

Margaret:Cheat her proportions?

Jay Manuel, stop stuff like that.

Lindsay:I find his voice kind of soothing.

In a creepy way.

Margaret:I still think Mileys dress is too much.

Lindsay:I love the bottom, Ill admit it.

But, yeah, not for her.

Margaret:No Emile interview?

Hes actually in an Oscar-nominated movie.

Lindsay:I know, and one that may win tonight!

Who you rooting for, for Best Picture?

Margaret:SlumdogI guess?

Lindsay:Same, though I have to say Im a bigMilkfan, too.

And Ill admit some of thats due to my sort-of overboard obsession with James Franco.

Lindsay:Yeah, come aboard my James Franco train its awesome.

Margaret:It is a sexy, sexy train.

Lindsay:I hope we see him on the carpet tonight.

If he can get away from his student duties at Columbia and all.

Margaret:I know, all that and smartypants too.

Call me, James Franco!

Margaret:Not sure who that lady with the clipboard is, but me gusta the gunmetal dress!

Lindsay:That is, Hugh, not Franco he can do anything with his shirt off.

Margaret:Thats why the Hugh Jackman episode ofInside the Actors Studiois a classic.

Lindsay:I mustve missed that one, darn DVR!

There is a lot of hype about presenters tonight.

Sure hope its worth it.

Margaret:Does anyone even care about the presenters?

I feel like it only matters when they do something awesome/hilarious.

Im thinking of the Steve Carell/Will Ferrel make-up award from … a … few years ago?

Lindsay:Giuliana, stop touching the host, kindly.

Margaret:Hi, guy fromMamma Mia.

Lindsay:Hi, guy fromMamma Mias beard.

Lindsay:Dev Patel!

Margaret:For reals.

Lindsay:I just noticed, Jays hair is almost the same shade as his tux.

Margaret:Its freaking me out.

Lindsay:Were already 25 minutes in and have only seen, like, half a star.

Margaret:THERES A BLIMP?!

Lindsay:Maybe there needs to be, for E!s innovative star tracker thingie to work.

Did you hear about that?

Margaret:Yeah, its reminding me of the hologram business from CNN on election night.

I like technology, but … lets respect its limits, folks.

Lindsay:Soon were all going to be holograms who can be tracked via E!

Margaret:Hey, its Anthony Hopkins!

Where have you been, Anthony?

Lindsay:Oh, here we go, explanation of the star tracker, a.k.a.

Looking amazing in … greige?

Lindsay:I loved Tarajis necklace.

Margaret:Wow, Zac, that hair is a big greasy dont.

Lindsay:Very elegant.

He apparently was going for the game-show-host look.

Margaret:Wow, wait, how tiny is Zac Efron?

If Ryan is towering over him?

Lindsay:Did he just say version in a British accent?

Margaret:Nice, Vanessa.

I say this as someone whos seenHSMa number of times.

Lindsay:Luckily none of Zacs hair gel rubbed off on Vanessas Marchesa dress.

Margaret:I couldnt get a good look, but it seemed too busy on top for me.

Lindsay:As a closetHSMfan, you must be counting down the minutes until their big number.

Margaret:No closet!

Im an out and proudHSMfan.

Lindsay:Im a Zac fan, not so much Vanessa.

Margaret:Agh, one of my favorite celeb couples ever!

Margaret:Kevin Kline and Phoebe Cates.

Oooow, my heart.

I hope he sings.

Lindsay:Yes, right now we could use some excitement.

Margaret:Maybe hell come onIdolatrywith us!

Lindsay:Phoebe seems more interested.

Margaret:Richard Jenkins, sporting a white knot I wonder how many of those well see tonight.

(Those are in support of marriage equality, FYI.

Tie the knot?)

Lindsay:So, presenters are going to be revealed dramatically.

Lindsay:Its like the rose ceremonies onThe Bachelor: Its the most shocking ceremony yet!

Margaret:Amy Adams looks guh-mazing.

Lindsay:Not sure I love the necklace she has paired with the cherry-red gown.

I am happy to see the bright color, though.

Margaret:Everyone wants to get a piece of Madonnas after party.

Thats the creepiest phrase ever, I think.

Lindsay:Ken Baker can be kind of creepy, yes.

Margaret:I dont think this star tracker thing is really enhancing anything.

Lindsay:Except for the idea that the carpet is jam-packed (or maybe those are all decoys).

Margaret:Yeah, packed with noncelebrities.

Wheres my star track of Dev Patel?

Lindsay:I know, bring the Dev back.

One of our readers said they saw him carrying a kid we need more info.

Margaret:I think those were the kids from the movie, werent they?

And … a page from my dream journal.

Lindsay:That would make me so happy.

Maybe those little cutie pies are presenting?!?

Margaret:OMG, c’mon, yes.

Margaret:I just gasped.

Lindsay:Look, were psychic!

Um, harsh Seacrest!

My heart is exploding.

Lindsay:Theres my girl Freida!

Margaret:Looking lovely.

Lindsay:LOVE it!

Margaret:Has Ryan Seacrest never spoken to a child before?

Those kids are delicious?

What is up with the creep factor tonight?

Lindsay:Maybe that was a hint for her hubby?

She wants in on the Hollywood trend.

Finally, we have some real A-listers among us.

Margaret:Woah, Melissa Leo looks amazing.

I did not recognize her, though.

And I am the biggestHomicidefan on earth.

Lindsay:Gorgeous color, very flattering on her.

Your interests vary widely.

Margaret:Here we go with Tarajis dress

Lindsay:Roberto Cavalli does no wrong.

Margaret:Yay, Dev and Freida!

Lindsay:Does she ever not look gorgeous?

Wait, is there no glam cam action?

Margaret:Why is no one talking about how Dev Patel is only 18?

Aw, this is so cute, they love John Legend.

Lindsay:Why does Angelinas name always have to come up?

There are other celebrities in the world, Seacrest.

Lindsay:Do we think Freida would actually admit if shes being courted L.A. style?

Margaret:Freida Pinto FTW!

Making jokes, looking gorgeous, putting Seacrest in his place.

Lindsay:Theres Brolin!

Ive become a big fan of his this year.

Margaret:Robert Pattinson is here after all.

Yeah, Josh Brolin is definitely having a moment.

Margaret:Heidi Klum, I am not loving that.

Lindsay:Me neither.

Too many jagged edges.

I think Mr. Boyles going to end up with a statue tonight.

Margaret:Danny Boyle is so charming.

And if you havent been watchingSkins,you guys, start.

I really dig it.

Margaret:Viola Davis looks like a million bucks.

Lindsay:I need to watchSkins everyone in our office keeps talking about it.

Margaret:Its good, but I feel weird seeing the little kid fromAbout A Boyacting all grown up.

Lindsay:Heidis hair is a little too patted down, much like Zac Efrons was.

Margaret:WE GET IT, HEIDI KLUM HAS GREAT LEGS.

I still dont love it.

Lindsay:No, Margaret, you needed to be reminded at all times.

Margaret:Wait, was that … Spanx?

Or just bike shorts?

Lindsay:Totally yes.

Margaret:Poor Ryan.

Its hard being funny.

Not that those two names should be in the same sentence.

Margaret:Heidi and Seal, another fave couple.

Lindsay:Marisa Tomei looked a little too serious there.

Margaret:Amanda Lilly Kane Seyfreid should lose the bow, methinks.

Lindsay:I missed the alleged bow!

Margaret:Hey, bring me Judd Apatow, Seacrest!

Margaret:So, it looks like were finally getting into the good stuff.

So far, dress trends?

Im thinking red with architectural details is the biggie so far.

School me with fashion wisdom, Lindsay.

Lindsay:20 bucks Seacrest asks Amanda Seyfreid if shes dating Dominic Cooper.

Margaret:Aww, I think theyre cute.

Lindsay:Yeah lots of red, and lots of statement pieces.

Did you see how many bracelets Heidi had on her frail arm?

Margaret:Fo reals!

Lindsay:Im surprised we havent seen much purple yet.

Maybe Winslet will be wearing it.

That color would look fab on her.

Margaret:Hello, Seth Rogen.

Lindsay:Ah yes, though she did do that for the SAG awards.

Lindsay:Wow, Seth is half his size.

Margaret:SJP, that dress is out of control.

Jay is at a loss for words on that dress.

Margaret:hey, Lord, let Jay be at a loss for more words.

Lindsay:Also, can we discuss SJPs hair?

Margaret:Brunets represent!

(7:13)

Lindsay:Okay, officially loving Amy Adams dress now that its been glamastrated.

Margaret:Amanda Seyfreid is going to be singing tonight?!

Lindsay:Yes, supposedly with Zac, Vanessa, and Dominic.

Margaret:Ooooh, Anne Hathaway is having trouble walking.

That means the dress is too tight, peach.

Lindsay:Wow, Melissas Georges dress, great until you scroll down.

Margaret:Its reminding me of January Jones dress from a few months ago.

Margaret:Still with the scruffy hair.

Lindsay:No, its not a joke, Rob, kindly see EWs cover last week.

(7:16)

Lindsay:Franco!!

Lindsay:And with a date.

Insert my major sad face here.

Margaret:Who is he with?

Other than, you know, my sworn enemy?

Lindsay:I know, these are the real issues people!

Lindsay:SJP is barely mint, and Im barely shocked by the amount of cleavage were seeing.

Margaret:Yikes, Matthew Brodericks hair looks scary.

Lindsay:Is it highlighted?

Margaret:Holy bejebus, Robert Downey Jr. looks smokin hot.

Lindsay:Speaking of people with three initials…

Lindsay:Yes, RDJ, you look dashing.

Margaret:Seth Rogen is awesome.

Lindsay:Was it Marisas dress that you thought was like January Jones sky-blue one?

Because I think youre right.

Margaret:How come we didnt get to see the Judd Apatow interview?

Margaret:Marisas dress is pretty intense.

Lindsay:I guess that means January Jones has a lot of followers.

Lindsay:What say you about Anne Hathaways dress?

I like it, but I need a better close-up.

Margaret:Its sparkly?

Lindsay:Ha, yes, it is!

I think we just saw her grab her dads hand it was sweet.

(7:25)

Margaret:I am not loving Annes dress.

Margaret:Marisa Tomeis not a Ryan Seacrest fan, apparently.

Lindsay:Yeah, shes giving him death stares.

Margaret:Beyonces dress?

Lindsay:Mickey, startled by Seacrest as many people are.

Margaret:Here comes fun!

Mickey Rourke put off by Ryans annoying lefty handshake.

Margaret:Aw, dont make him talk about Loki!

Lindsay:I know.

And is that irony?

I dont think it is.

Margaret:Wow, 18 is old for a chihuahua.

Margaret:Diane and Josh, creating high jinks.

Lindsay:Random thought of the night: Dianes lip color looks gorgeous on her.

Margaret:Diane Lane looking radiant, and Josh Brolin might actually be interesting?

Margaret:Also with a white knot, for people keeping score at home.

Margaret:Queen Latifah will be singing the song for the RIP montage?

Margaret:Jessica Beil is on the phone!

Lindsay:I did a post-Oscar morning nominations interview with Brolin and loved him.

Margaret:That hair is a mess, Ms. Biel.

Lindsay:Her hair was probably confused why shes attending the Oscars.

Go back to the Camdens, Biel!

Lindsay:Im going to go ahead and put my approval vote out on Annes dress.

Its different, which is why I like it.

(7:35)

Margaret:Ryan asks Ron Howard about theArrested Developmentmovie!

Wow, did I not expect that.

Margaret:Marion Cotillard in the black-and-blue sparkletron.

Margaret:I think I can smell you.

Lindsay:Marion looks amazing.

Her fish-like dress made a splash (pun intended) last year.

Margaret:Ryan, that was weird.

Margaret:Evan Rachel Wood looks great.

Lindsay:Im not sure I love that color on her pale skin though.

Margaret:I think the hair color looks good, though.

Who are the rest of those people?

(7:38)

Margaret:First Jolie sighting of the night!

Lindsay:Stop the presses: Shes wearing black.

Lindsay:Its sort of funny how excited Giuliana just got at the Brangelina sighting.

Doesnt she see them, um, all the time?

Way to keep your cool, G.

Lindsay:Does Seacrest need to pronounce Barcelona that way?

Margaret:Its like how Giada on Food data pipe over-pronounces Italian food words.

Margaret:Seriously, Philip Seymour Hoffman?

Lindsay:Bond sighting!

Margaret:Daniel Craig, nom nom nom.

(7:43)

Margaret:Kate Winslet!

Lindsay:Shes in PURPLE!

Margaret:Oh man, Penelope Cruz looks like an angel in that dress.

Lindsay:She likes that silhouette.

It reminds me of the baby-pink one.

Margaret:Does the top of Angelinas dress not fit right?

Margaret:Not into Jessica Biels dress, which is too long.

Lindsay:Jay is way too nice.

He needs to learn to be, you know, honest.

Lindsay:Purple or grey Im LOVING Kates dress.

Big fan of the one shoulder.

Margaret:Steel grey!

I like it very fashion-forward, very different.

(7:48)

Lindsay:So who are we missing?

Margaret:Cate Blanchett?

Lindsay:Oh yes, good call.

Margaret:We saw her briefly, but she didnt get the Seacrest treatment.

Margaret:Theeeeeres Tilda Swinton.

(7:51)

Lindsay:And the reason Star Tracker was invented: Brangelina.

Margaret:Kate Winslet is so adorbs when she imitates her kids.

Well, now we know who Ryans rooting for.

Lindsay:His ego?

Margaret:IS that Alicia Keys?

Lindsay:I think so!

One word: Wow.

Margaret:I wanted to see Natalie Portman, who I think is in pink, too.

Lindsay:Yeah, bubble-gum pink, it seemed.

By the way, Biels dress was by Prada.

Lindsay:I liked the reader below who said it looked likeProject Runwayconcoction.

(7:58)

Margaret:OK, so E!

is wrapping things up.

Time to switch to ABC!

Lindsay:He looks so dang young when he shaves.

Maybe his razor is magic.

Margaret:Robin is RIPPED.

Lindsay:Yes, how can i get those arms?

Margaret:Im liking Kates dress more and more.

Lindsay:I like Tim Gunn more and more, too.

Margaret:I missProRu.

Lindsay:Oh, Ive never heard that nickname!

Margaret:Awww, Tim Gunn is cracking me up.

Lindsay:You think Jess will ask aboutSATCsequel?

Lindsay:Spoke too soon.

Also, maybe that dress isnt as bad as I thought?

(8:05)

Lindsay:Maybe the E!

cameras enhances things, if you know what I mean.

Margaret:Bad-hance things, I guess.

Lindsay:Smooth transition, Jess.

Margaret:Wow, Brangelina did NOT want to talk to Tim Gunn!

Margaret:Frownface on that.

Lindsay:Oh wait, it seems Angelina had a speck of color on her her green earrings.

Lindsay:I dont think they want to talk to anybody but themselves.

(8:09)

Margaret:Hey, wheres Reese Witherspoon?

Did that montage make you miss her?

Also, sorry, I just laughed out loud at Valentino.

Lindsay:Hes a man of fabric, Margaret, not words.

Margaret:I want to pet his hair.

It looks so fluffy.

Margaret:Also, I want to get a picture of theseSlumdogkids tattooed on my face.

Lindsay:Oh, look at that, no ones holding up papers with names on them.

Margaret:Wow, Mickey Rourkes pants are tiiiiiiight.

Margaret:Jess, ask to see that dog tux!

Lindsay:Jean Paul Gaultier doesnt like to leave room for breathing.

Lindsay:I think weve heard Vanessa say incredible at least 10 times now.

Margaret:I think part of it is?

Im just guessing we know Miley got there two hours ago.

She hasnt been standing outside that whole time.

Ive only been blogging, and Im more or less pooped.

Lindsay:We should predict who else we think well stop for our guy.

Lindsay:Maybe Sean Penn, too?

Lindsay:Lots of people are wondering where Christian Bale is.

(8:20)

Margaret:Maybe he got sent in the secret fancy door?

Because ABC is trying to trick us into watching the ceremony?

Lindsay:Oh yes, or maybe hes in jail?

I kid, I kid.

An age-appropriate gown, very pretty.

Margaret:Poor Tim Gunn, the lines theyre giving him are really corny.

Lindsay:I know, right?

Hes quite charming when hes not, you know, being fed lines.

Margaret:Richard Jenkins, you will always be Late Nate (fromSix Feet Under) to me.

(8:23)

Lindsay:Late Nate and Robin look like theyre the same height.

Lindsay:Jess found his way to the bar score!

Margaret:Jack Black, always funsies.

Margaret:Wow, Marisas dress is incredible.

I too have never seen such gorgeous pleating.

Margaret:Yay, finally, my Judd Apatow interview.

Lindsay:I would probably save James Franco from that date of his.

Lindsay:Who would you save Margaret?

Margaret:Dev Patel, so we could be BFFs for ever and ever.

Lindsay:and the otherSlumdogkids, too, right?

Hmm, must they advertise for the Oscars during this preshow?

Theyre making the show sound even boring-er.

Lindsay:I know, we get it: We need to watch the ACTUAL telecast.

Well, that was fun.

Whos your best dressed, before we sign off?

Lindasy:Freida and Winslet.

Margaret:Penelope Cruz for me.

And with that, were passing the live-blog baton over to Mandi and Thom for the main event.

Lindsay:Enjoy the show!