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If you ask Ellen, the Oscars is the single most important event, possibly only bested by Christmas, but that's unlikely. I did find it funny that the Indpls paper noted that thowing Oscar parties is a recent rage, when she has been throwing Oscar parties for ...9 years...? 8 years...? Well, the Indy Film Fest threw together a nice red carpet event at Cinema Grill so we could watch it on the big screen...which was very cool, despite some anger that they replaced part of the red carpet hour with short film that was up for an Oscar. Overall, I would give Indy Film Fest kudo's, with a suggestion to replace their MC and get better raffle prizes :)
