I highly recommend it. I've been watching it and it is very informative. It gives all sides, the good, bad and ugly about winning and not winning the Oscar.
It shows clips from way back when. It makes you realize how difficult it can be for the losers. (They are actors because they have huge egos after all).
It's fun to see people that are so well known for their acting and directing and you automatically think "they've won Oscars" when actually, they never did.