The King's Speech. Sure, the acting is top-notch, but the film itself was like watching paint dry. So many of the other nominees from that year (Black Swan, Inception, The Social Network, etc.) strike me as so much more interesting, memorable, and innovative than The King's Speech, so it wasn't like there was a dearth of qualified competitors. That film was pure Oscar-bait and it's disappointing that the Academy chose the blandest film of the bunch.