I use to watch the Oscars every year. However, I haven't gone to the movies much this year (mainly because I don't find that many appealing), so there's not any one movie/person that I can root for. I too don't always agree with what movies are deserving or not.
I probably will tune in switching back & forth, because I do like Jon Stewart, and I believe George Clooney will be there, and he's easy on the eyes. :p It's also fun (at least for women) to see what the ladie's are wearing.
So, it really won't be a "must" for me.
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Like the music awards, it's lost it's prestige to a degree IMHO.
TIS