I thought there were actually quite a few surprises. For one, I did not expect to see The Hurt Locker take home so many Oscars. I thought Avatar took too few. C'mon, for the biggest grossing film (domestically) of all time, I don't think it got the honors it deserved; nor did Cameron, for that matter. Although at this stage of his career, Cameron really doesn't need another "Oscar winner" title preceding his name. I think he has garnered a respectable amount of success without the win!
Sandra's speech was amazing, as was Mo'Nique's. I loved the dancers to the movie themes. I did not care for Allen/Baldwin as cohosts this year. Their humor was not, well, humorous to me.
The show was too "sped up" at the end -- Hanks' speedread of the Oscar winner for best picture, which should have been the apex of the entire show, was read faster than my ears could keep up. (I know they were behind on schedule, but what's another 60 seconds for crying out loud?)