Both films have six nominations in the leading categories, including mentions in the best film section.

Martin Scorsese's Gangs of New York has five nominations.

Up for Best Picture of the year: Gangs of New York, The Hours, Lord of Rings, The Pianist and Chicago are all in the running.

Meryl Streep is now the most nominated actress in the Academy history with her 13 Oscar nominations, beating Katherine Hepburn.

Critics are calling this year's Oscars a year for women.

Overall the names now in the frame for an Oscar are those that the film industry expected, after another frenzied season of award ceremonies.

Who do you think should win? Are there any names or movies that you think have been overlooked? Or are any of the movies on the list undeserving of all the attention?

Thank you for your comments; this debate is now closed. A selection of your e-mails is published below.

The Academy is in debt to Nicole Valeria Lima, Paraguay

I hope the Academy gives Nicole the award she deserved last year. She sang, danced, laughed, loved, cried and died, all in one movie! I think the Academy is in debt. Talking about the best movies, I don't know why The Two Towers is nominated - the first part was, by far, much better.
Valeria Lima, Paraguay

I wouldn't say that The Two Towers is tragically abused in its nominations, for it does receive several, though as many would agree, the directorial exuberance of Jackson seems to be criminally overlooked. Daniel Day Lewis was excellent in GONY and is most deserving, for the film, while epic in scale would have felt empty without him. Why is Hanks and Road to Perdition neglected?
Matt, UK

Scorsese's direction did not live up to his reputation Kate, USA

I would like to see Daniel Day-Lewis win best actor; his performance was both riveting and alarming, and he convincingly portrayed a character in whom I believed totally. But Gangs of New York as a whole was shoddy filmmaking, and it should not have been nominated for best film. Scorsese's direction did not live up to his reputation.
Kate, USA

I think Nicole Kidman did a fantastic job in The Hours and she definitely is the best choice to win in the Best Actress category. Catherine Zeta-Jones will sweep Best Supporting Actress even though she did a far better job than Renee Zellweger in 'Chicago'.
Seli Baeta Sutton, Ghana/USA

If there's one thing more boring than Lord of the Rings, it's LOTR devotees going on about how underrated it is Pip, UK

Wow, if there's one thing more boring than The Lord of the Rings, it's LOTR devotees going on and on about how underrated it is. Yes, it's a good action series, but it's no Citizen Kane. Jackson's own 'Heavenly Creatures' was a far superior film.
Pip, UK

Where was Donnie Darko? That was easily the best film of the year, or does it only qualify for next year?
Robin Brown, UK

I was shocked to see no mention for Insomnia. I thought it could've been up for Picture, Director, Actor (Pacino) and Supporting Actor (A very fine performance by Williams). Also I thought Jude Law gave a great performance in Road to Perdition.
Adam Laver, Crawley, West Sussex, UK

It would be fascinating to hear Michael Moore's acceptance speech Hefin Raymond, Wales

I hope Chicago wins everything, I can't believe Richard Gere wasn't nominated. I really hope Bowling for Columbine wins best documentary feature. It would be fascinating to hear Michael Moore's acceptance speech.
Hefin Raymond, Wales

I am very pleased to see that Pedro Almod�var can get a major Oscar for best director or screenplay. He deserves it.
Roberto B de Juan, Spain

The best film of the year by far was the Two Towers. Having seen Chicago and Gangs of New York, I can honestly say that they didn't even come close. I sat for three hours spellbound and so did the rest of the full house. But as usual it was not Hollywood enough to deserve any recognition. Andy Zerkis' portrayal of Golem was absolutely outstanding, and the fact that Peter Jackson was overlooked for best director is appalling. Are the Oscars solely for Americans? It seems so.
Kate, Wales

The Oscars are a complete waste of time. They are consistently weighted towards "home wins". Who can forget the total travesty of justice when Helen Hunt (As Good As It Gets) won over Dame Judi Dench (Mrs Brown)? Proof positive that these so-called awards are biased. Always have been, always will be!
Jane, UK

Jane, UK and Kate, Wales: Your comments are at best, naive, and at worst, anti-American! Oscars only for Americans? I think not! In the last five years Oscars in the major categories have been awarded to actors Juliette Binoche, Geoffrey Rush, Roberto Benigni, Brits Michael Caine, Judi Dench, Jim Broadbent, and directors Anthony Minghella and Sam Mendes, so tell me, what really is your problem?
Pam, Canada

If Catherine Zeta Jones wins an award, will she want to have her picture taken then?
Naz, UK

I am so disappointed the Academy rejected the Palestinian film Divine Intervention Hanna Mousa, Lebanon

I am so disappointed with the Academy's decision to reject the Palestinian film Divine Intervention. I suspect the omission is politically oriented to a great extent.
Hanna Mousa, Lebanon

Bush and his team should win the best special-effects award (having convinced us of things that aren't really there), while Blair and Sharon will bitterly contest the best supporting actor nomination.
Frank Lee, USA

The major category misses two nominations: Minority Report for best movie. It is an excellent motion picture that easily stands above Gangs of NY and the Hours. It's a visual feast with a thought-provoking storyline, and solid acting all around. The second one is Peter Jackson for best director. Although the trilogy is not finished yet, TTT was a masterpiece, just great directing!
Van Autreve Tim, Belgium

Disappointingly predictable Russell Tayler, UK

The nominations are disappointingly predictable. Chicago was an enjoyable film, but nothing more. The roles were fairly one dimensional and failed to stretch the actors involved. Furthermore, its transformation to the big screen failed to capitalise on the possibilities of the form, coming across as simply a filmed version of a stage show. However, it seems to remind the old suits on the Academy of a bygone age, so it is a sure-fire winner.
Russell Tayler, UK

I think Mel Gibson should have been nominated for his role in "We Were Soldiers"
Randall Groombridge, USA

Another session of self-congratulation, for people doing a job for which they are vastly overpaid.
Robert, UK

I'm astonished that Chicago received so many nominations Tony, UK

I'm astonished that Chicago received so many nominations. I was very disappointed when I saw it. The director missed the opportunity to create an on-screen spectacle and settled for making a film of the stage show. My vote for best picture goes to Gangs of New York with Daniel Day-Lewis as best actor and best actress has to be Nicole Kidman.
Tony, UK

I cannot believe that Richard Gere was not nominated for Chicago. He sings, tap dances and gave a memorable performance in a film that took years to be changed from the musical. Granted, the other actors were worthy of a nomination but I still do wonder about Nic Cage. The guy is good and all but to warrant a nomination over Gere? Isn't it odd that Gere wins an award from the Golden Globes but doesn't even get a nomination for this?
Elena, United States

The wow factor of the Two Towers seems to once again have been ignored. Whilst Chicago is a good film and deserves recognition, the Two Towers is an outstanding bit of cinema.
Nick Brett, UK

It is extraordinary that Peter Jackson's 'The Two Towers' does not feature more prominently in the nominations. The make up, costumes, special effects are outstanding. The actors have been snubbed, as well as Jackson. A fantastic epic has been shamefully ignored.
Eva S, UK

The worst snub this year is "City of God" for best foreign picture (or possibly even Best Picture). It is a travesty that the Academy has ignored this masterpiece!
Brian, UK

I am more than a little shocked and disappointed by the lack of nominations for Lord of the Rings: The Two Towers. I didn't really expect it to pick up any of the major awards this year, but it seems pretty ridiculous that it was snubbed in some of the technical awards when all three films were made in one long 18-month shoot, therefore the quality in this respect is fairly consistent.
Andrew Twigge, England

I hope that Nicole Kidman gets the best actress award. She should have won the Oscar years ago for To Die For and I don't think Rene Zellweger deserves it for Chicago as Catherine Zeta Jones stole every scene that they were in together.
Mel, Ireland

Chicago is certainly one of the best scores in Musical Theatre. The stage show is stylish, although it is really more of a concert version than a proper show. The film, however, is formulaic, unimaginative and a poor imitation of Moulin Rouge. The fact that it has been nominated for thirteen Oscars is more of an indictment of a lazy, derivative Hollywood machine than a commendation for a great film.
Niall Palmer, London, UK

I definitely think Nicole Kidman should win best actress Sam, Australia

I definitely think Nicole Kidman should win best actress but I wouldn't like to see Jack Nicholson win yet another Oscar. It is really hard to select which film should win the best Picture. My favourite film this year was probably The Two Towers.
Sam, Australia

The Two Towers film attempts to depict a well loved masterpiece of imagination, and does so superbly. Gollum should get best supporting actor. The Lord of the Rings films will be seen and admired for many years, while their contemporaries will be out of print.
Gordon Swan, US

I hope that Martin Scorsese will finally win for his direction. He surely deserves it!
Jack, USA

Hardly any nominations for 'Lord of The Rings' but plenty for 'Chicago' (which will no doubt win a number of Oscars). You try not to be cynical but once again I expect the Academy members will look after their own - and ignore the rest of the film world.
Mel Harris, UK

Chicago deserves all the nominations it got. I think Zeta-Jones deserves every award available for her performance. But where was Richard Gere's nomination? I am not a fan of his, but he was absolutely amazing in Chicago. I think his nomination should replace Zellweger's.
Jyl Shaffer, USA

It's a shame Andy Serkis didn't get a best supporting actor nomination for his role as Gollum in The Two Towers - one of the finest performances I've ever seen.
David Hills, UK

Michael Caine deserves best actor though it will probably go to Daniel Day Lewis Paul, England

Presumably the Lord of the Rings trilogy and Peter Jackson will be nominated and win next year. It's a pity the competition's so tough because Michael Caine deserves best actor though it will probably go to Daniel Day Lewis, and Kidman will get this year what she deserved last year. It would be good if the Academy didn't automatically give best director to the director of the winner of best film this year, as with Ron Howard last year. Chicago best picture? Out of that line-up I suppose so.
Paul, England

If one looks at the competing categories carefully, it would appear that Chicago has very tough competition. It won't win best actress, nor director, nor the supporting roles, because of Hollywood logic, so that leaves best picture and costume, presuming that The Two Towers and Gangs will take the other technical awards.
Noelle, Canada

The nomination of Zhang Yimou's Hero in the foreign-language film category is less than thrilling for Chinese-speaking audiences like us who see how the dialogue is silly and the characters are fake beneath the movie's "grandiose colours and big battle scenes." It's all show and no substance. Exoticism always works with the Academy members, even when it's pointless and foolish.
Albert Hung, Taiwan

What about Badly Drawn Boy for best song? David Pearce, England

I can't believe that Chamber of Secrets didn't get a nomination in one of the technical categories. The score by John Williams should also have got a mention. What about Badly Drawn Boy for best song? Connection: they're in British films.
David Pearce, England

Well deserved nominations for Julianne Moore and Nicole Kidman. What a fantastic job they did along with Meryl Streep and Ed Harris in The Hours!!! As well as Queen Latifah in Chicago. However, Chicago is, in my opinion, overrated. Moulin Rouge was much a better musical. Good luck to Adaptation and Frida!!! Excellent movies!!
Tomas, Czech Republic

Congratulations to Catherine Zeta-Jones who was sparkling in Chicago. She really deserves some credit after the years of hard work she has put in! A home-grown talent we should all be very proud of! Well done girl!
Deb, Manchester, UK

I can't really believe how many nominations Gangs of New York got. Colin, Scotland

I can't really believe how many nominations Gangs of New York got. With the exception of Daniel Day-Lewis, everything in the film was very average. Y Tu Mama Tambien should be up for a lot more though, easily the best film I have seen in the last year.
Colin, Scotland

I am not surprised that Peter Jackson was snubbed. The academy can't even categorise this movie correctly. It is neither science fiction or a sequel. If they can't bring themselves to call it a fantasy movie they should at least concede that it is an action movie. Devoted Tolkien fans all know that this is one story and not three separate stories. I never expected the academy to honour Peter Jackson's work as it should be but I am astounded that they did not nominate this movie for make-up, costumes or best song.
Lori, USA

I think Chicago and Catherine Zeta Jones should win an award. I went to see Chicago with my mum (her choice) it is not something I would normally choose and I could take or leave CZJ normally. But was absolutely blown over by the amazing singing and dancing and her superb performance.
Amanda, UK

I hope and pray that 'Bowling For Columbine' gets Best Documentary. However, I would imagine there's a lot of people in the world of US big business who will be hoping just as much that it won't.
Mark Morton, UK

The storyline is weak, the filming in no way innovative and the dialogue is dreadful Taliena, Scotland

While there are many good films nominated this year, I think to credit Chicago as being one of them is a bit premature. While indeed entertaining, to credit it as a 'great' film is ridiculous. Catherine Zeta is a very talented dancer and singer, Renee gives a good but not amazing performance, but the storyline is weak, the filming in no way innovative and the dialogue is dreadful in places. For it to receive more nominations than a film such as Lord of the Rings or The Hours is an absolute travesty.
Taliena, Scotland

I am so excited that Spanish films are getting in on the Oscars. I am keeping my finger crossed that we get at least one!
Joanna, Spain

Chicago is razzle-dazzle
Mujadid Ali, Pakistan

Any film depicting WWII basically comes with an Oscar nomination guarantee. aleks, Canada

The Pianist nominated for Best Picture? How predictable is that? It seems that any film depicting WWII basically comes with an Oscar nomination guarantee. I mean, did anyone actually listen to the lines? The script could've used some help and maybe the few spoken Polish words should have been pronounced correctly.
aleks, Canada

Congrats to Queen Latifah, Eminem & Adrien Brody on their Oscar Nods. They need honor some fresh talent. Also, I really hope Jack Nicholson loses. He always wins - give someone else a chance! I hope Eminem performs his nominated Lose Yourself at the show. I rarely watch the awards because I believe it's rigged. But I would watch just to see Eminem.
A, USA

Catherine Zeta Jones gave a wonderful performance in Chicago and definitely deserved a nominations, as did Devdas (from India) in the foreign language category. Both movies were aesthetic feasts.
Jamie, US

Jennifer Aniston should have been nominated for best actress Haley, USA

In my opinion, Jennifer Aniston should have been nominated for best actress for "The Good Girl." Her performance in that film was haunting and realistic. I believe the Oscars are simply a chance for movie production companies to honour the same people over and over again. They consistently overlook smaller, less mainstream movies.
Haley, USA

Its not really a surprise that Chicago leads the nominations, but frankly some of them are undeserved (Cinematography, just remember those horrible close ups at the beginning), and whilst it is entertaining, its not deserving of the ultimate accolade. The direction was all over the shop, and I am pleased that foreign gems such as Y Tu Mama Tambien and Talk to Her have been recognised in the screenplay and directing categories. The exclusion of Meryl Streep from 'Best Actress' category and Peter Jackson as Best Director are unforgivable. Lets just hope the academy fold and give Mr Jackson his (now long-overdue) Oscar next year.
Rob Butler, Yorkshire, England

I felt I had to put finger to keyboard to express my astonishment at the fact that Peter Jackson has not even been nominated in the category "Best achievement in direction". His is not only the greatest achievement in directing of 2002 but surely one of the greatest of all time. I know there is a theory that the academy is waiting until next year to honour LOTR in its entirety but surely each film should be judged in each year on its own merits. Does anybody seriously think that "A Beautiful Mind" was a better film than FOTR? By the same token it is, perhaps, even more amazing that "The Two Towers" his not even been nominated in the best cinematography category!!! Have these people actually seen the film?! Please!
Barry Miller, UK

I was hoping to see Bowling for Columbine up for Best Picture K Schindler, Indiana, USA

Chicago deserves its nominations, although Gere would have been a nice addition. Personally I was hoping for a nice, huge surprise: Bowling for Columbine breaking into Best Picture. But if Hoop Dreams couldn't do it...
K Schindler, Indiana, USA

I'm unhappy that Peter Jackson was snubbed. But, they had to nominate Martin Scorsese because they tend to lick his boots.
Susan Alexander Llauget, USA

Oscar nomination mistake: City of God, brilliant, creative, was not nominated as best non-English language film.
Ester Scarpa, England

City of God (which is a stunning film) is not nominated because it was not released in the US last year - it might be nominated next year however. I haven't seen About Schmidt or Far From Heaven, but I have seen everything else in the major categories and my picks would be Gangs of New York, Martin Scorcese, Nicole Kidman, Daniel Day-Lewis, Catherine Zeta Jones and Chris Cooper. Nice to see Talk to Her and Y Tu Mama Tambian recognised in categories other than the best foreign film. I loved all the films nominated for best film and would not be disappointed whichever wins, really. I would also like to see Spider-Man win something because it was one of the most enjoyable films I saw last year.
Cara, London, UK

I think Two Towers was woefully neglected. Jackson has done an incredible job bringing a very difficult story to the screen and not upsetting Tolkien devotees. It definitely deserves best picture, best cinematography, best visual effects and best director.
Val, England

Nicole should have won last year for Moulin Rouge - let's hope she isn't overlooked this year.
Deb, Ireland

I think The Pianist should win. It is the most beautiful, authentic film about the defining, horrible years of the 20th Century. It captures the horror of the Holocaust with nuance and reality, and without resorting to cheap typecasting or Hollywood sentimentality. Polanski is a master.
John, USA

The Two Towers was lame Dave, Florida, USA

I thought the Two Towers was lame, and this is from someone who saw the Fellowship five times in the theatre. My vote goes to Gangs of New York and Daniel Day Lewis. Simply the most amazing movie I've seen in a while.
Dave, Florida, USA

Eminem for best actor!!!!!!
Claire Anderson, UK

Eminem for best actor? Oh yes, he really had to stretch himself to play a white trash rapper. Pretty typical listing - some who deserve it, some who don't, and some obvious snubs that can't be justified (e.g. Peter Jackson). The rest of the intelligent movie watching public will just get on with sorting the good stuff from the dross and make up their own minds.
John Kearney, UK

It is unfortunate, but true, that Jack Nicholson will undoubtedly win for About Schmidt. Too bad. It is really 'About Jack' in all his Jackness. Caine, Cage or Brody should win but until there is a revolution at the Academy and some of the more up-to-date actors are invited to join, we shall see the old standards coming up again and again.
Beverly, Canada

For 'thought provoking', read 'boring as hell' Frances, England

Chicago deserves its nominations, if not for the amazing acting, dancing, singing and all round top notch production values then for finally putting a bit more fun back in the cinema! Not all of us want to watch 'thought provoking' cinema, because to be quite frank for 'thought provoking' read 'boring as hell'.
Frances, England

If Jack Nicholson wins it will not be a surprise as Hollywood loves him. It should be Daniel Day-Lewis or Michael Caine. Jack seems to play himself all the time. He is a good actor but not that good. Hollywood and the media are in love with his bad boy image.
Dilip, UK

Thank goodness Richard Gere doesn't receive a mention. His "performance" in Chicago is the only flaw in the otherwise spectacular film.
Jonathan, UK

He was just the usual Jack, he didn't deserve the Oscar Dean, UK

I can't help noticing the snub for Peter Jackson; could they be waiting for the third film before the academy decides to honour his outstanding directing? Can't help wondering if the Academy will go for old favourite Jack Nicholson, he seems to get nominated every other year. He is a good actor but not a great one. Just look at As Good As It Gets, he did a good job but he was just the usual Jack, he didn't deserve the Oscar for it. Don't be too surprised if the Academy goes for their old favourite again. I would like to see Adrien Brody get the recognition, he gave a great performance.
Dean, UK

I'm thinking of laying a bet but this year there's nothing that stands out in a real mixed bag. Michael Caine should win for his exquisite performance in The Quiet American, but with Oscar set to be in jingoistic mood come the big night, it's very unlikely.
Steve Besford, England

Where is Ray Liotta's best actor nomination for his powerful role in Narc? Kidman is overrated.
Mary Innes, UK

The Two Towers is woefully underrepresented Andrew, The Netherlands

As I expected, The Two Towers is woefully underrepresented. After all, it's only an amazing adaptation (part) of one of the greatest novels of the twentieth century!
Andrew, The Netherlands

It's got to be Nicole Kidman for best actress, she is a fantastic actress!!! And Catherine Zeta-Jones for Best Supporting Actress... No gongs for Renee please, although she did a good job in Bridget Jones' Diary... have to say, I'm still a bit narked that the part went to an American actress!
Sally, ex-UK

I definitely think Catherine Zeta Jones should win best supporting actress. As good an actress as Renee Zellweger is, she was completely overshadowed in Chicago by Jones' charisma.
Kay, Durham, UK

Queen Latifah? Best supporting actress?! Alright, NOW I want to see Chicago.
Tim Gomersall, UK

Haven't heard a mention of City of God, the best film I've seen in ages... is it nominated in foreign film category?
Adrian, Ireland

Adrian - look out for City of God next year. You're right though; it's mind-blowingly good. The Academy better make it up to Jackson and co next year as well! It should have been nominated for score, costume design, cinematography and directing this time out. Not to mention adapted screenplay. Chicago will probably clean up.
Deirdre, Ireland