The festivities don't stop with the Oscars ceremony - once the awards are handed out, the stars let loose with the Governor's Ball and Vanity Fair's post-Oscars bash.
We spoke with a number of celebs at the latter gathering, and Sean "P. Diddy" Combs for one was planning on having a good time.
"['Undefeated' filmmaker] TJ [Martin] happens to be the first African American to win an Oscar [for best documentary], and I'm happy to be a part of it," Combs told us as he arrived. Pointing towards the party, he added, "I plan on having more memories, so if you catch me in a few more hours I'll have some more stories for you!”
Meanwhile, best supporting actress Oscar winner Octavia Spencer was trying to hold on to the memory of her win: "I don't remember the moment on stage," she admitted to us as she arrived. "All I remember is trying not to fall down the stairs."
Speaking of major on stage moments, Jon Voight could only laugh at how his daughter Angelina Jolie stole the spotlight - with her thigh.
"I saw my daughter having her moment," Voight said. "It's so funny about those things, because who would know that somebody just coming up there and standing on stage would get so much attention and be so luminous for that one moment. It was lovely."
As for host Billy Crystal, Vanity Fair party attendee Salma Hayek thought he was funny, as usual, but admitted she'd like to see him shake things up a bit: "A piece of advice - I think those songs where they talk about [the nominated movies] - I think it's very funny, but we've seen it enough times, we're ready to move on to something else."
Oscars producer Brian Grazer is also ready to move on, as he told CNN that he doesn't see himself taking on the Academy Awards once again.
"I don't think I'll do it again, but I liked doing it," Grazer said. "It was a pleasure, a privilege, actually."
Although we didn't stay to party with them, Olivia Wilde and Martin Short filled us in on what we'd be missing at the Vanity Fair event. "The women inevitably have a moment where they compare the pain level of wearing their heels in the bathroom around 1 [a.m.]. And then we take the shoes off and everyone's happy," Wilde recapped for us, while Short painted a classy, if drunken, picture.
“It's very elegant, considering that that many people drink that much alcohol," he said. "They still maintain their tiaras; they don't get crooked. It's combination of bitterness and envy and alcohol.”
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Oscars 2012! There was the Elton John party and the Vanity Fair party but the hottest ticket in town was to Madonna's bash! It was an over the top rock star party! WOW!
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