Usability 
The official Oscars site at m.oscar.com was created by Netbiscuits for The Academy of Motion Picture Arts and Sciences and ABC, Inc., the official Oscars broadcaster in the US. It lists all of this year's nominees and promises to have live coverage starting at 8 PM EST on Oscar night. It's not clear if the live coverage will be streaming video or text, but I suspect the later.
While you're waiting for the show to start you can view hundreds of photos of stars on the runway from the last five years of Oscar or read a detailed history of the Academy Awards.
The site also has 35 videos including a multi-part "Road to the Oscars" piece, explanations of the science behind some of the nominees for technical awards and video interviews with nominees, hosts and writers. Unlike last year, there don't seem to be any trailers from the nominated films. The videos are served in a variety of formats and should work on any video capable device ranging from basic feature phones to the iPhone.
You can also sign up on the site for live text alerts featuring news about the nominees, information about special promotions, and live updates throughout the show (standard text messaging rates apply).
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