Crouching Tiger, Hidden Dragon was shut out of the top Oscar categories Sunday night, but the movie's four wins — including best foreign language film — were cause for celebration at Sony's high-flying after-party held at Crustacean in Beverly Hills.

"Every award means something different, but this is the biggest one," Crouching Tiger director Ang Lee told TV Guide Online. "The whole world's watching. I was carrying the wishful thinking from [the whole] Chinese audience."

The acclaimed helmer of Sense and Sensibility and The Ice Storm then hinted at the kind of acrobatic showdowns that audiences should expect from his in-the-works prequel to the $100-million-grossing crossover smash, saying that he will probably approach the fight sequences a little differently next time around. "I'm thinking... I can do better," he said, to the astonishment of anyone within earshot. "I was a novice the first time."

Asked about Crouching Tiger losing best picture to Gladiator, Pei Pei Cheng, who played the evil Jade Fox in the martial arts masterpiece, put a positive spin on things. "One is enough, but we have four," she cheerfully pointed out.

A modest Yo Yo Ma, meanwhile, downplayed his contribution to the movie's soundtrack. "I just did my little bit," he insisted. "I just played the cello." Oscar-winning composer Tan Dun and Chinese songstress Co Co Lee also attended the festivities.

Pollock, another Sony success story, was represented by stars Ed Harris and Marcia Gay Harden, the latter of whom didn't anticipate a major career boost as a result of her surprise supporting actress victory. "I think for a week I'll receive more phone calls than I'll possibly know what to do with," she predicted. "And then I think life goes on."

Other partygoers included Crouching Tiger stars Chow Yun Fat, Michelle Yeoh and Chang Chen, as well as Baywatch's Traci Bingham, ER's Ming-Na and Happy Days pa Tom Bosley.

Hugh Hefner — who arrived with his trademark Playmate entourage — made the Sony soiree his first stop after hosting a viewing party at the Playboy Mansion. Reflecting on the Oscar telecast, he gave host Steve Martin two thumbs up. "I think he was the best thing in the show," he told TV Guide Online. "He's very good at ad-libbing, so he kept it very funny."