The Academy is all about backway deals, politics, and money. So, yes, it wouldn't surprise me to see The Artist win. However, when you compare it to Hallows or Hugo - it pales horribly in comparison. We all know I'm rooting for DH2 in this category, as I think the series has been known for its stunning production design throughout each and every single film, but I wouldn't be too disappointed if Hugo wins since it is the only film this year on the level of Potter in Art Direction.