Workers roll out the Oscars red carpet during preparations for the 86th Annual Academy Awards in Hollywood, California February 26, 2014. [Photo/Agencies]

Angelina Jolie and Brad Pitt to present at the Oscars

Most Americans have yet to watch any best-picture Oscar nominee: poll

Over at the other trade publication, Variety, awards editor Tim Gray said that "more than ever, I'm totally flummoxed."

"I think best picture is between '12 Years a Slave' and 'Gravity' but I wouldn't bet money on that," Gray said.

In a telling sign of the tight battle, the two films had an exact tie in one of the most reliable predictors of the Oscar best picture, the Producers Guild Award.

The heightened drama around the big prize could give viewers an extra reason to tune in to the live ABC telecast of the glamorous event, hosted this year by comedian Ellen DeGeneres.

The cliffhanger category also stands in contrast to more predictable outcomes in the top acting races. Cate Blanchett should win best actress for "Blue Jasmine," while Matthew McConaughey is favored for best actor for "Dallas Buyers Club" and co-star Jared Leto has a lock on best supporting actor.

The best supporting actress category could see favorite Lupita Nyong'o, the slave Patsey in "12 Years a Slave," upset by Jennifer Lawrence's loopy wife in 1970s caper "American Hustle."

For best animated film, the tale of Nordic princesses "Frozen" is expected to give the Disney Animation Studios its first Oscar in that category since it was added in 2002.