
As far as period films go, Joel & Ethan Coen's True Grit has the upper hand in terms of visualization, although much of that is due to Roger Deakins' cinematography. I don't expect much in terms of art direction. The film I think is most deserving of the win is Harry Potter and the Deathly Hallows: Part 1. The sets they built for Malfoy Manor, the Weasley Wedding, and the Ministry of Magic, along with the unprecedented scope of the set design really should put this at the head of the pack. Somehow it doesn't, so I'm going to say the film that most likely will win is Christopher Nolan's Inception. In a film entirely dependent on elaborate architecture, the prowess is brought much closer to the surface by Ariadne's character. You look around at the surroundings because it's part of her creation. The King's Speech might take that away, but I dearly hope not.