I found the show as a whole the most enjoyable in many years. Hugh Jackman was a terrific host. I enjoyed them bringing back the musical numbers.
I agree about Kate Winslet. Much as I like her, I really don't think she deserved the Oscar for that role. For my money, I would have preferred seeing Anne Hathaway get it for "Rachel Getting Married".
Was very happy to see Penn get the award for "Milk."
Penelope Cruz? Strange choice, IMO.
Heath Ledger was a shoo-in, but I think the award itself was more a belated response on the part of the Academy for his role in "Brokeback Mountain" than for "Dark Knight" which, while the best thing about the movie, was not (at least for me) as Oscar-worthy performance.
I was hoping "Milk" would take Best Picture. "Slumdog" was good, but I felt "Milk" was a more ambitious, involving and thoughtful film. Maybe that has to do with the fact that it was more personal for me, since I lived right there in the midst of it all in S.F. during that time.