Last night, the red carpet of the 79th annual Academy Awards was graced with the works of Valentino, Versace and Armani sported by this year's best actors and actresses.

Best-Dressed Women

1. Kate Winslet set records for her high number of Oscar nominations and raised the bar for Oscar red carpet fashion. She wore a pale green, Grecian-style Valentino gown that had a long sash that hung elegantly over her shoulder.

2. Maggie Gyllenhaal wore a navy and shimmering black dress that was lightly feathered on the bottom. The sash that went over her shoulder was appropriately elegant.

3. Jennifer Lopez wore a blush pink jeweled dress with an empire waist that flattered her figure.

Honorable Mentions

Beyoncé caused us some dispute because the stone sash was a bit too much but overall, she looked "irreplaceable." And Reese Witherspoon is sooo over Ryan with a radiant purple dress that had a ruffled train trailing behind her. Her long blonde hair and bangs were the accessories for her gown.

Worst-Dressed Women

Jennifer Hudson has proven that real women have curves, but Jennifer, the '80s are over. Her short metallic jacket was overkill layered over her complexion-flattering brown dress.

Kirsten Dunst's dress was light blue and silver with an unbecoming collar and an abundance of feathers at the bottom that seemed oddly stuck on. Her bangs and red lipstick only exacerbated her poor fashion selection.

Meryl Streep did not resemble her fashion forward character that she played in "The Devil Wears Prada." Her overly Bohemian attire consisted of a loosely fitting black wrap-around dress and a plethora of bright colored long beaded necklaces.

Dishonorable Mentions

Penelope Cruz's top half of her rosy Versace gown was a gorgeous corset that paid attention to detail with swirling seams. But the bottom was so wild and feathered that it swallowed her small frame. Anne Hathaway didn't learn much from "The Devil Wears Prada" either in her ivory colored gown that was ruined by a gigantic, unrestrained black velvet bow.

Best-Dressed Men

1. Leonardo DiCaprio of course looked good with his signature slicked-back hair and clean suit. He also brought his mom as his date, so kudos for that.

2. Will Smith was clad in a simple bow-tie tux and a shaved head and was accompanied by wife, Jada Pinkett-Smith, and his son.

3. Djimon Hounsou mixed things up with a brown tux that had light brown details. His shades also complimented the get-up.

Honorable Mentions

Steve Carell cleaned up well from the mentally unstable uncle that he played in "Little Miss Sunshine."

He looked crisp in his black bow-tie tuxedo.

Mark Walberg, who was up for supporting actor for "The Departed," has come a long way from his days as "Marky Mark" and looked sterling in his black studded tuxedo and styled hair.

Worst-Dressed Men

1. Jackie Earle Haley wore a skinny silver tie, silk silver scarf and pale blue glasses. Need we say more?

2. & 3. Gael García Bernal and Diego Luna both need to button their jackets, fix their ties, shave their faces, and brush their hair. It looked like they got ready for this major event in about five minutes.

Dishonorable Mentions

Will Ferrell performed a song about how he is dissatifised with the lack of Oscar nominations for comedies, but we were too busy gawking at his Afro to take him seriously.