cate blanchett

"Blue Jasmine"

Role: Jasmine (nee Jeanette), a Manhattan socialite now poor and disgraced.

In her favor: She radiates the tense energy of a thoroughbred racehorse, and the spectacle of her designer-label ego disintegrating is mesmerizing.

Then again: No then again. Woody Allen has directed a lot of actresses to well-deserved Oscars, and Blanchett is a cinch to join them.

sandra bullock

"Gravity"

Role: Dr. Ryan Stone, a hyper-competent astronaut terrified to find herself adrift in space.

In her favor: Bullock's heroic character has a tragic back story richer than that of most space explorers. The rigors of her effects-heavy performance are well-known and impressive.

Then again: Though it's a career-best performance in a top-flight role, the academy's prejudice against sci-fi films is a significant hurdle.

Sandra Bullock in "Gravity"

judi dench

"Philomena"

Role: Philomena Lee, a real-life Irish retiree in search of the son taken from her 50 years earlier.

In her favor: A resonant character, both a daffy old dear and a wise woman of hard-won dignity. Sublime chemistry with co-star Steve Coogan.

Then again: The film's bleak laughs, emotional body blows and seriously considered religious themes seem to confuse many viewers. Their loss.

meryl streep

"August: Osage County"

Role: Violet Weston, a pill-popping, stiletto-tongued Southern matriarch using her husband's funeral lunch to chew up her daughters and relations.

In her favor: A full-diva, claw-the-walls portrayal of an emotional nihilist. Reams of juicy dialogue straight from Tracy Letts' Pulitzer-winning stage play.

Then again: Some overpowering performances leave viewers feeling elated. This solo showoff extravaganza is not one of them.

emma thompson

"Saving Mr. Banks"

Role: Starchy "Mary Poppins" author P.L. Travers, engaged in bad-tempered negotiations with Walt Disney over the film rights.

In her favor: No one does aggrieved, intelligent British women better than Thompson.

Then again: Being the best part of a manipulative, mediocre film is no key to Oscar success.

amy adams

"American Hustle"

Role: Con woman/former stripper Sydney Prosser (a k a English aristocrat Lady Edith Greensly), a key player in a farcical FBI sting operation.

In her favor: Adams conveys intelligence, survival instinct and a kindhearted core. And she wears sternum-baring '70s disco gowns like a boss.

Then again: She's up against Cate Blanchett.