Sally Field in classic red Valentino, Jane Fonda in bright yellow Versace and Emmanuelle Riva in a teal gown that recalled society grande dames all looked regal in their fashion choices.

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My heart skipped a beat just for a moment when Jennifer Aniston stepped onto the red carpet in her red Valentino gown and what looked like a petite jewelry watch on her wrist.

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By the time we get to the party, for which the Colosseum is bathed in blue light as a backdrop for wire-dancing acrobats dressed in Valentino red, the Felliniesque-ness of it all can bring tears to our eyes.

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Red was the color of the evening: Sandra Bullock wore a strapless red Vera Wang dress, Jennifer Hudson showed off her svelte frame in a va-va-voom tangerine Versace gown, and host Anne Hathaway sported two red dresses throughout the night (one by Valentino and one, very briefly worn on stage, by Versace).

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