XMen's Wolverine star actor is taking the stage in the Kodak Theater in LA to host the Oscars 2009 tonight. Hugh Jackman already voted sexiest man alive is supposed to turn around the Oscars and counter the downward trend in audience numbers.

I am not sure if this will work as Hugh Jackman is supposed to sing. He is actually a great singer, but this will not pull XMen fans in front of the TV - trust me. He will most likely sings some broadway musical hits.
Heath Ledger who died in 2008 is nominated for an Oscar as best supporting actor in his role as Joker in the last Batman movie.
For more predictions on who and what movie will win a n Oscar see also this Reuters story about the Oscars 2009.