I used to watch it every year, if scheduling matched. in the last few years though it was made harder, due to the time difference; I would often get the winners spoiled which would then make watching the show rather pointless (it is shown here with a delay of eight hours or so), lack of actual surprises aside.
Caught the last three on TV during a recap on Monday evening and was happy to see that The Hurt Locker to the top 2. I like Avatar, but it is not Oscar material.