Here are the possible choices for this year:
THE SOCIAL NETWORK and THE KING'S SPEECH: The two Best Picture front-runners have definite nominations as well in such categories as Director, Acting, Screenplay, and Score. SPEECH has bonus locks in Art Direction and Costume Design.
TRUE GRIT: Many possible nominations including: Picture, Director, Actor, Supporting Actress, Screenplay, Editing, Art Direction, and Cinematography.
BLACK SWAN: Many possible nominations, including: Picture, Director, Actress, Supporting Actress, Screenplay, Editing, Costumes, and Cinematography
INCEPTION: The only likely Best Picture nominee with a strong chance in the effects categories, it would need long-shot acting nominations to put it over the top.
THE FIGHTER and THE KIDS ARE ALL RIGHT: Both have multiple acting locks and have a definite chance in the Picture/Director/Screenplay categories.
My pick is THE KING'S SPEECH with BLACK SWAN, THE SOCIAL NETWORK, TRUE GRIT, and THE FIGHTER closely behind in a veritable dead heat for second place.