Last week, comedy's heavyweights donned their finest embarrassing dad sweaters, broke out the bubbly—and the clip reel—and paid tribute to Bill Cosby, who was on the receiving end of the exceedingly prestigious 12th annual Mark Twain Prize for American Humor.

On hand to present the longtime-coming award (the family-friendly Cos had twice turned down the honor in objection to the 1998 profanity-laced inaugural ceremony honoring Richard Pryor) were Jerry Seinfeld, Chris Rock, former Cosby Show costars Phylicia Rashad and Malcolm-Jamal Warner and fellow comedian and longtime pal Dick Gregory.

The erstwhile Huxtable's 45-year career was retold via show highlights, memories and, of course, jokes.

When Seinfeld and Rock took the stage together at the Kennedy Center, they recounted the 72-year-old's recent show at the Apollo Theater. Or at least they would have if they hadn't been so sartorially distracted.

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It's months away, but the Oscars are already Rocking our world.

In the latest effort to return Hollywood's biggest night to must-see-TV status, the powers that be have tapped Alec Baldwin and Steve Martin to cohost the 82nd Annual Academy Awards next year.

The ceremony takes place March 7, 2010, at Hollywood's Kodak Theatre.

"I am happy to cohost the Oscars with my enemy Alec Baldwin," Martin, who hosted the ceremony solo in 2001 and 2003, said in a statement.

"I don't play the banjo but I'm thrilled to be hosting the Oscars—it's the opportunity of a lifetime," added Baldwin, a veteran movie star and past nominee who just collected his second straight Emmy for being freakin' hilarious on 30 Rock.

Our sides are hurting already. 

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Hugh Jackman's out. Ricky Gervais is taken. Neil Patrick Harris is moving up the Academy Awards' invite list.

Not so fast on that last one.

On Friday, we asked Las Vegas' own Oscar handicapper Johnny Avello for his take on who'll be the awards show's next host. Avello, director of sports race and sports operations for the Wynn and Encore hotels, kindly complied with a hot-off-the-presses line.

When we first took a look, we were surprised. And not because the favorite of favorites is a dark horse. Because it—or rather, he—isn't. At all. Let's just say if Avello's right, your next Oscars telecast is going to be a blast from the past.

And not a blast from the Emmys by way of the Tonys. (Sorry, NPH.)

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Hugh Jackman would like to thank the Academy, but no thanks.

Despite his critically (the gig garnered several Emmy nominations) and publicly (he breathed new life and viewers into the ratings sinkhole) acclaimed Oscars hosting stint last spring, the Aussie actor will not be returning to the podium for the 2010 telecast.

Jackman's quiet exit doesn't mean he won't one day become this generation's Billy Crystal. His rep confirmed to E! News that he has not ruled out a return to the Oscar stage, but just didn't want to emcee for two consecutive years.

Fair enough. After all, how are we supposed to realize how good this is until we spend a year without it?

No frontrunner has emerged to fill Jackman's sizable song-and-dance shoes, but with one obvious fill-in, Ricky Gervais, suddenly bringing new buzz to the Golden Globes, the Academy better bring out the big guns.

So…Stephen Colbert, Neil Patrick Harris, Conan O'Brien, Chris Rock, Ellen DeGeneres, uh, Robert Pattinson…who would you like to see host the 82nd Annual Academy Awards when they return March 7?

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You know what movie's already getting Oscar buzz? You do now.

Frederick Breedon/Getty Images; Kevin Mazur/AEG via Getty Images

Taylor Swift just got six more potential chances to deliver an uninterrupted acceptance speech.

And, for the sake of the inevitable dead-horse-beating comparison: Kanye West scored a whopping zero chances to not let her finish. That's right, kids. Cut off America's sweetheart and you're as good as sitting out the next awards season. Or at least the 2009 American Music Awards.

The random triumvirate of Paula Abdul, Adam Lambert and Snoop Dogg announced the nominees for the AMAs this morning, and the country cutie led the pack with six nominations, including a nod for the nightcapping Artist of the Year Award.

Joining Swift at the forefront of the nominations is Michael Jackson, who scored a posthumous five nods, including Artist of the Year and Favorite Male Artist in both the pop/rock and soul/R&B genres.

Rounding out the nominated pack are Eminem, who nabbed four honors, and Beyoncé, the Black Eyed Peas, Kings of Leon, T.I. and Lady Gaga, who took home three apiece.

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Drama Series: Mad Men

Comedy Series: 30 Rock

Lead Actor in a Drama Series: Bryan Cranston, Breaking Bad

Lead Actress in a Drama Series: Glenn Close, Damages

Writing for a Drama Series: Kater Gordon & Matthew Weiner, Mad Men ("Meditations in an Emergency")

Directing for a Drama Series: Rod Holcomb, ER ("And in the End")

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Stephen Moyer didn't need a red carpet to see stars tonight.

The very-much-in-love True Blood star had far more to say about his "very funny and very frank and very direct and beautiful" costar and fiancée, Anna Paquin, than he did about any of the Emmy nominees.

"Firstly, I fell in love with her talent," Moyer told E! News while walking the carpet outside Los Angeles' Staples Center. "We were actually improvising and trying stuff, [like] 'It doesn't work this way, let's do it another way,' and so immediately I was very excited about that.

"And then after a few weeks, we'd finished working and I was back in London and she was in New York and I really, really missed her..."

It was then he knew she was the one.

And what about that proposal?

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It's Emmy night! Long awards shows where famous people get all dressed up and hand out awards to each other are our favorite. (Duh.)

We love it so much we are documenting every single moment. The highlights so far:

GlamCam 360: See your favorite stars all the way around.

The Photos: Take your pick between fancy red carpet arrivals or grainy DIY Twitpics actually taken by the famous people themselves.

The Tweets: Keep up @redcarpet.

Red Carpet Quotes: Who's gonna pull a Kanye? Who might just pee in public? Don't guess: Read it here!

Witness the Interviews! All the celebrity fun without having to stand in that blazing sun. Watch 'em here!

The Winners: Because that's what this night is all about. Here's a no-fuss list of everyone going home with a trophy.

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See the view from celeb Twitter in our 2009 Emmys: Red Carpet TwitPics gallery!

"We're like turtles behind a radiator. There is an enormous convex lens that is just focusing the sun's energy to try to destroy people. We're like ants under a 12-year-old's magnifying glass."
—Jon Stewart, on the stifling heat on the red carpet

"I was totally trounced by Andy Richter. It really is about the buzzer."
—Dana Delany from Desperate Housewives, sharing her wisdom after surviving an episode of Celebrity Jeopardy

"Someone would have to be abducted for us to have a chance. And I just want to know who is going to pull a Kanye."
—Samantha Who? actress Christina Applegate, sharing her thoughts on tonight's Emmys

"I am still consistently interested in him, fascinated by him. He is still a mystery to me, in a good way."
—Kyra Sedgwick, on how she keeps it hot with husband Kevin Bacon

"I like my big nose. How about that? Take that, nose jobs! My pinky toes are foul, foul. They look like cashews."
—Julia Louis-Dreyfus, when asked about her favorite and least favorite body parts

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Courtesy of Dimitrios Kambouris/Getty Images

So You Think You Can Dance's Cat Deeley deserves a spot among Ryan Seacrest, Jeff Probst and Heidi Klum as an Emmy nominee for Best Reality-Show Host. You've said it, we've said it to her and, apparently, she hears it all the time.

"That's the second time someone has said that to me, and I've only been here for about 20 minutes," the blond beauty told E! News at the G-Star Raw fashion show earlier this week. "But I'm going on Sunday!"

Sure enough, the leggy Brit is presenting on television's big night. And even though she's been on the Kodak Theatre stage before—SYTYCD's most recent finale was filmed there...

"I'm a little bit nervous about it, though," she confessed.

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