I've seen all the candidates for Best Actress now. Salma Hayek and Renee Zellweger are fine, and it would be nice for a Latina to win, and Renee should have won last year for Bridget Jones, but they're outclassed here. That leaves Julianne Moore, Nicole Kidman, and Diane Lane, all of whom are deserving. Lane is terrific in a mostly cheesy movie, her career has gone far more unrecognized compared to the other two, but I don't know ... I guess I'd be more impressed if the movie was any good. Kidman seems to be getting too much credit for the fake nose ... she's a great actress with or without makeup, people should know that by now. In The Hours she conveys intelligence the way Jane Fonda did in movies like Julia. Julianne Moore is so great so often that I suspect her work in Far From Heaven seems a bit like more of the same; I thought she was even better in The Hours. Any of those three would be a fine choice for Best Actress; if forced to pick, I'd vote for Nicole Kidman.
I've also now seen all (i.e. both) nominees for Best Makeup, and since I think Salma shoulda been hairier in Frida, I'll vote for The Time Machine.