Oscars buzz for Coens' No Country

No Country... stars Josh Brolin (above) and Tommy Lee Jones Who will take the trophies?

The Coen brothers' thriller No Country For Old Men is the frontrunner to win best film at the Oscars on Sunday.

The film, which stars Tommy Lee Jones, has scooped more prizes than any other in the run-up to Academy Awards and is the bookmakers' favourite.

But Academy voters are notoriously fickle, and the prize could also go to quirky comedy Juno, or Hollywood golden boy George Clooney for Michael Clayton.

Preparations for the ceremony in Los Angeles are in full swing.

No Country For Old Men, a dark, violent tale about a hunter who stumbles across the gory aftermath of a drugs deal, was named best film by the producers', writers', actors' and directors' guilds.

BEST FILM ODDS 1/3 - No Country For Old Men 4/1 - There Will Be Blood 6/1 - Atonement 14/1 - Juno 33/1 - Michael Clayton Source: Ladbrokes

Members of each of those awards bodies also vote for the Oscars.

"There is a strong feeling in Hollywood that this is the year of the Coen brothers," Tom O'Neil, film critic for the Los Angeles Times, told the BBC News website.

But Juno, the quirky coming-of-age comedy about a teenager who falls pregnant, is emerging as a dark horse in the Oscars race.

Made for just $2.5m (£1.3m), the film is the most successful of this year's Oscar contenders, earning more than $125m (£63.5m) at the box office.

"Its screenplay is so good, it could sneak through," said Lew Harris of website Movies.com. "It's not just a little piece of fluff."

Hollywood is being transformed for the ceremony

The other nominees for best film are Atonement, starring Keira Knightley and James McAvoy, and oil prospecting drama There Will Be Blood.

Meanwhile, the transformation of Hollywood Boulevard into a red carpet arena is almost complete, with larger-than-life Oscar statues in place, albeit covered by dust sheets.

Pre-awards shows and receptions have been taking place throughout the week, with dinners and cocktail receptions for nominees from all walks of cinematic life.

There are events for hair stylists and costume designers alongside charity dinners attended by the likes of Cate Blanchett, Tom Hanks and Steven Spielberg.

A question mark still lingers over the glitzy post-Oscars parties after the high-profile Vanity Fair bash was cancelled amid the writers' strike.

People magazine's party has also been cancelled, and socialite Dani Jannssen has scrapped her annual bash, which usually attracts the likes of Jack Nicholson and Clint Eastwood.

However, pop star Madonna has stepped into the breach, according to trade paper Variety, with a hastily-arranged A-list party in the Westside hills.