Courtney Hunt

Given mainstream Hollywood's fondness for glamorous actors and happy endings, it is a wonder 2008's Frozen River's lead actress Melissa Leo got an Oscar nomination for Best Actress and first-time writer-director Courtney Hunt a nod for Best Original Screenplay. Surprising none of its fans, both women went home empty-handed.

It's hard not to feel ambivalent about the Oscars. The nominations and winners are decided by a set of disparate criteria (artistic achievement, industry clout, reputation, studio alignment, marketing dollars) and a voting body that is largely irrelevant to most moviegoers. Still, getting nominated - and winning! - contributes handily to the artistic credibility and financial success of those lucky enough to receive a nod. Oscars also play a big part in helping studios decide what and whom to finance. Which is why it's really no surprise that The Curious Case of Benjamin Button cleaned up in the nominations this year: it's just another Forrest Gump.

So what's there to cheer and jeer about in the Oscars this year? Some thoughts after the jump...

Every Friday, The Female Gaze will feature a round up of news and updates related to women in film.

This week: what do Cadillac Records and Punisher: War Zone have in common? And what is Hilary Swank up to? Find out after the jump...