1) I liked Seth McFarlane as a host, even though he always cares to make jokes offensive before making them actually funny. Also I felt a bit of a disconnect between his gig and the whole "let's honor James Bond" motif, which wasn't that much of a motif to talk about. I agree a single host is way better than a duo. From Franco-Hathaway to something like a sure bet with Martin-Baldwin, these always are lacking freshness and spontaneity.
2) What the hell is it about Life of Pi? It's such a fucking CGI-fest I wonder how it won anything beyond Visual Effects. Aren't you supposed to actually INVOLVE cinematography to win Best Cinematography? Movies made in a computer should be locked away from the category. Also - Best Director? Same deal. I'd give a badge to all the minions slaving at CGI.
3) Waltz winning again so soon and for such a similar character was very surprising but I'm OK with it. Day Lewis was the obvious choice and I agree on the award but I'm always a bit weary when an actor hogs Best Actor whenever he so much as shows up onscreen (kind of like what Meryl does). Regarding Best Actresses... all very meh. Best Actress going to the lead's love interest? Is this really the best performance by a woman in the whole of 2012?
4) Would the Academy really cut off the Best Movie recipients' speech, and did Ben really need to speed up the way he did? Cutting off the DP's speech, sure, but Best Movie? Nobody's gonna rush you man. And yeah, I'll be a bore and join the chorus of people chirping about Ben not getting nominated for Director.
5) Disappointed at Haneke's win. Not because he didn't deserve it, but because he was so blasé about it. I half-expected him to slash his own throat or throw his award or at least be mordant about the whole affair but nope, just a dude thanking God and his wife. Again.
6) I'd just like to point out the two movies that will be remembered the most are Argo and Django (both of which won best screenplays!), then Lincoln (if only because Spielberg directed it) and Pi (because of Best Director/Photo/FX/whatever). Everything else was there either as a stunt or as a sympathy vote (Beasts of the Southern Wild and Silver Linings Playbook above all).
7) MY BIGGEST COMPLAINT - the hell is the First Lady doing at the Oscars? Just what the hell, people. By setting her up there you're politizising the whole thing! And this is about movies, not politics! (on a minor note, why're you going to get Jack Nicholson onstage if he's just going to step aside for the chick in the screen?)