As the Academy Awards ceremony nears, the big question is: Who will win? Another big question, of course, is: What will they be wearing? TVGuide.com looks back on the biggest red carpet hits and misses of the awards season in anticipation of Hollywood's biggest night. Which stars will hit the right note like Lea Michele? Will anyone try to pull off Britney Spears' sheer look? And who will take a fashion risk and carry Lady GaGa's torch?

Watch the video below:

Don't forget to check out Live at the Academy Awards with Carrie Ann Inaba and Chris Harrison, Sunday, March 7, live at 6 ET/3 PT on TV Guide Network, and watch the live Fashion Cam video of all the red carpet arrivals at TVGuide.com/fashioncam starting at 6 ET/3 PT.