Honestly I really don't care for the Oscars... They try to honor the individual when it is all the cohesive parts that make everyone look good. That is why a core group of films get all the awards each year. Very few awards are not swayed (in my opinion) by the contributions of other participants than the one receiving the award on the film. Example: Best Actor. How much of that performance is enhanced by great music, camera work, vfx, sound design, screen writing, all these things are cohesive and hard to separate for separate merit.
That being said. "Golden Compass" won the Academy Award for "Best Visual Fx". And I must say it is exciting to have been a part of the VFX team that created those effects. My hat goes off to all my co workers at R&H and those at the other studios that contributed. It is so incredible the number of man hours that are put into making films... It is an almost impossible task and yet there is the final product.