I haven't seen 'The King's Speech' yet, but from what I've heard that could be the big winner of the night.
My favourite film was 'Black Swan', so I hope that wins a few oscars....at least the best actress cause I thought Natalie Portman was incredible.
I've got a sneaky feeling 'The Social Network' could win a few, although I feel a bit bored of that film already. I loved it when I first saw it, but I haven't really had the urge to watch it again since. Funnily enough the film I most have the urge to watch again is '127 hours'! But I think that has more to do with the true story that it was based on, being so inspiring and powerful, and less to do with the fantastic directing.
Other favourites of mine I'd like to see do well are 'True Grit' and 'Toy Story 3'.