Holy crap, I'm live-blogging the red carpet coverage on E! Keep refreshing the page if you want to live...or just want to watch me make fun of Ryan Seacrest, like, a lot.

5:30: Okay, so how long before Isaac Mizrahi attempts to french kiss one of the Brokeback boys just to see if, ya know, he can grab a spot in the sequel?

5:32: Oohh, they have a blimp - I think I just saw Tom Sizemore's crack den!

5:33: Seacrest opens up the red carpet with Alba's Playboy news? Yeah, I can see how that connects to the Academy Awards.

5:35: Okay, when they do the whole 3 circle conversation, it gives me a headache - especially when Mizrahi mentions underwear.

5:37: Does anyone else think Ryan Seacrest's Oscar "lounge" is, well, a little bit Brokeback?

5:43: Seacrest is interviewing John Legend in the Oscar "lounge" and all I want to know is whether or not those people in the background are having real conversations or just going back and forth with stuff like, "Holy crap, I'm on E! right now!"

5:45: Seacrest reads the Oscar menu and they are serving grilled cheese sandwiches. Classy!

5:46: Noah Baumbach and Jennifer Jason Leigh are the coolest couple ever! Mizrahi is officially a doof for thinking understudies are funny.

5:50: Seacrest is back in the "lounge" going over designers. Once again, this has so much to do with the films. However, you can keep up those pics of Scarlett Johansson.

5:54: The topic of conversation has gone to who does and doesn't have extensions. Is this important to a woman? I have no idea.

5:56: Giuliana says people who show up early are tools. I love it. Oh, and take a real close look at Guiliana. Is it me or is it a bit cold out there?

5:58: Hey Ludacris made it to the "lounge". Man, Seacrest has all the VIP's!