Frankly, the best movie that I saw last year was Let Me In. I understand that it's not really an Oscar type movie, but it'd be nice to see some sort of praise for the film... and, yeah I dug Let The Right One In, too - I just think the American version is a little tighter. (And I'm by no means a horror/vampire fan at all).
After that - I really enjoyed Black Swan and True Grit and both were worthy of a Best Picture nods. True Grit kind of surprised me as it tends to be a little too straight forward for the Academy.
Of the rest of the nom's for Best Picture that I've seen... well, I think Inception was pretty much garbage, it's just muddy and has the typical Nolan look and feel and little emotion at all. Sorry, but you've seen one Nolan flick and you've seen them all, at least look wise - I dislike his style and approach. I can only hope the screenplay reads better than the movie I saw to warrant a nod. And The story had more holes in than swiss cheese.
Social Network is kind of a funny duck for me. I saw the movie and... and well, I thought it was a very solid movie. I just left it feeling kind of empty inside. I saw good, solid performances - but, I'm guessing you weren't supposed to like anyone in the film. I saw this movie and I felt ambivalent about it. I didn't care about the people involved or what happened to them... well, maybe I disliked Mark Zuckerberg even more.
I hope to see 127 Hours and The King's Speech before the Oscars air. But as it sits, my pick of the nominations is Black Swan.