InStyle's Oscar Viewing Party 2010

A hip crowd gathered at West Hollywood hot spot BLT to watch all the action unfold at the 2010 Academy Awards during InStyle's annual Oscar viewing party. Rachel Bilson's favorite Oscar moment? "Ben Stiller was very funny," said the actress. "I love when people don’t take themselves too seriously." One thing Bilson did give some serious consideration to was her Oscar night fashion statement. "I usually go short, so I decided to wear this Zac Posen dress tonight," said the stylish star, who layered on a vintage bolero jacket. "It's so classy and figure flattering."

-Andrea Simpson

"There are TVs everywhere, so I can see the winners from the candy bar!" exclaimed Rachelle Lefevre, who joined fellow guests Hayden Panettiere, Jessica Stroup and Malin Akerman to indulge in sugary snacks and cheer on their favorites. And thanks to the laid-back atmosphere, Lefevre didn't even mind a minor wardrobe malfunction. "I wanted to look sexy and cool and not overdo it," Lefevre said of her Ina Soltani dress. "Everytime I sit down the zipper comes undone. But that's OK, I have a blazer to cover it up!"

Amber Riley

and Chris Colfer brought some Glee spirit to the party, with Riley providing a one-woman cheering section for Precious star Gabourey Sidibe. Riley teared up before taking a photo of the Best Actress nominee on a nearby television screen.

"I'm bummed there's no press line because I would've loved to get more photos in this dress!" said Jessica Stroup, who was in the mood to show off her Stella McCartney frock. The 90210 star was also up for a little friendly wagering on some of the night's biggest Oscar categories. "I'm making bets with friends and so far I'm racking it up!" she declared.

"The dress goes with the hair!" said Hayden Panettiere, who paired her newly brunette 'do with an Amanda Wakeley gown. The Heroes star was among the guests who arrived at the bash in an Audi Q7 TDI clean diesel luxury SUV and planned to make a few more stops later in the night. "I'm going to go to Elton John's party to do some shmoozing," Panettiere said of her after-show plans. "The fun thing about tonight is that you run into so many people!"

Lily Collins

(in a Chanel ensemble straight off the Paris runway) and her mother snagged a back room table with Sex and The City star Jason Lewis. "Oh look at Sandy!" Collins shouted when she spotted her Blind Side co-star Sandra Bullock on the red carpet. "I e-mailed her this morning and told her good luck no matter what happens. She looks gorgeous!"

"I'm going to be running from party to party and I thought this would fit in at each one because it's simple and classic," said Jamie-Lynne Sigler of her little black dress from The Row. "I don't usually do nights like this, but it's fun!"

"I'm so excited that Up won an award, it was my favorite movie this year!" declared Malin Akerman. The beautiful blond wore one of her fashion favorites to celebrate the biggest night in film. "This is Dolce & Gabbana-they're always my go-to," said Akerman. "This outfit is sexy as hell...and it's see-through!"

Jessica Lowndes

's Lara Hoffman dress inspired her to have a little fun with her hair and accessories. "Since the dress is sexy and short I wanted to do modern ballerina hair," said the 90210 star, who finished the look with Steve Madden heels, a Jimmy Choo clutch and a bracelet from the evening's sponsor, Tacori.

"Wearing Monique Lhuillier on Oscar night just makes sense," said Entourage star Perrey Reeves (IT "The Twilight Saga"] star Kristen Stewart agreed!). Though she declined to name a best dressed female at the Oscars, Reeves had no problem singling out a leading man. "George Clooney ain't looking so bad," she quipped.

"I sent a text to Peter Som telling him I'm wearing his dress tonight," said Kate Mara. "He wrote back, 'So nice to hear from you, thanks so much for supporting me.'"