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Although the poll question is pretty ridiculous (see the aforementioned live/animated paradox), I enjoy the debate about whether Oscar hype really indicates quality.
In my experience and opinion, every year it seems the Academy voters select 2-3 decent films and 2-3 totally undeserving films for Best Picture consideration. Of the good films, one will usually deserve consideration as a top film of that year and of the bad films, one will usually be an utterly terrible monstrosity that fans will question until the end of time. The last really good Oscar nomination period, IMO, was 2002-03, which had The Pianist, LOTR: The Two Towers, and Chicago up for Best Pic (of them, I felt The Pianist deserved the award but was certainly happy that Chicago won).
On the other hand, I was extremely disappointed and almost depressed by the 2004-05 nominations. The only film I even LIKED was Million Dollar Baby, and thankfully, that was the winning picture, but it was a crime that Hotel Rwanda was not nominated.
In any case, I usually feel vindicated by at least ONE of the nominations. This past year it was Brokeback Mountain.