Jon Stewart delivers a classy and funny performance as host of 80th Oscars

Jon Stewart has really been shining tonight as the host of the 80th Annual Academy Awards. Though he didn't have a lot of time to prepare for the job, he's managed to keep us laughing and smiling throughout the ceremony, poking fun at the writers' strike, the grim tone of many of this year's nominated films, and current events, including the 2008 presidential race.

In a classy move, he also brought Marketa Irglova back out on stage following a commercial break. The co-winner for Best Original Song, she had the misfortune to be get cut off by the music just as she tried to start a quick acceptance speech.

UPDATE (Kathleen): Using servicemen and women to introduce the best Documentary Short movie was a nice touch and fitting in this year with multiple war-themed movie nominees. Armed conflict overseas continues a long tradition of providing great material for the cinema, but I think we would happily do without this theme at next year's awards ceremony, if that meant the troops were home from Iraq and watching the show at home with their families.

UPDATE (Jonathan): Haven't seen too much criticism of Jon Stewart yet, although Nikki Finke over at Deadline Hollywood Daily says:

Jon Stewart's monologue was better than the last time he hosted the show. Which isn't saying much. At least it was mercifully shorter. Problem is, halfway through this year's stand-up, he must have thought he was doing The Daily Show instead of doing the Academy Awards. It was obvious that the Hollywood audience was nervous, very nervous, when he launched into one political joke after another. The VIPs didn't laugh so much as politely titter. "Uh-oh," many of them clearly were thinking as Stewart ventured into The Danger Zone.

Oh, the horror! Jon ventured into politics! Oh dear! He's gone and done it now! Seriously, Nikki, what gives?

Jon's supposed to be entertaining a worldwide television audience, not just an elite confab of celebrities inside the Kodak Theater. Political satire and topical humor is what he's best at... and we want to hear it. We don't tune in to The Daily Show to laugh at carefully orchestrated, safely inoffensive humor.

UPDATE (Andrew): A few more of Stewart's gags:

"You know another way they could show respect for the writers? Maybe one day invite some of them to the Vanity Fair Oscar party. Don't worry. They won't mingle."

"Cate Blanchett is the woman who can't be stopped. She played Elizabeth. She played Bob Dylan. In No Country for Old Men she played the pitbull chasing Josh Brolin. Cate Blanchett, she is amazing. Right now, I Jon Stewart, am being played by Cate Blanchett."

"Whoever owns the Boeing 707 parked on La Brea Avenue, your landing lights are on [John Travolta runs on stage and rushes for the door]. "Don't worry, it's a hybrid".

"In case you're wondering what we do during the ad breaks. Mostly, we sit around and make catty remarks about what you're wearing at home."

The Times Online has a thorough wrap up of Stewart's gig. CinemaBlend also has great in depth Oscar coverage.