Yes, I plan to watch, and have my "scorecard" from the newspaper ready to check off the winners.
There's still something fun about it, unless I just fall asleep because of the lateness of the night.
Last year, I don't think I watched, because I didn't care for many of the movies. This year, I'll be rooting for Heath and Anne. I saw both of their movies, and particularly liked "Rachel Getting Married." Heath's performance was stellar, but TDK wasn't as much my type of movie.
Also, I definitely want to see how many Oscars "Milk" gets (if any at all), because that was my favorite movie of the year. I loved Sean Penn's portrayal of Harvey Milk, but Rourke turned me off just from watching the preview in the theater, so I didn't go see "Wrestler."