I either watch most of them or I'm at an Oscar/Globes party.
I live right in Hollywood, the Oscars actually take place just down the road from me. In reality that part is kind of a pain--streets get closed and traffic can be even more of a mess. Very few people actually get to go to the event itself but there are parties all over the city. It takes a ton of people a long time to get a movie to your screen. The vast majority aren't stars or powerful players, they are just passionate about the stories being told.
I do like to see what people are wearing but it is getting so bland. The stars play it safe, after all who wants to take the chance on being panned but I really rather see crazy and over the top.
Style wise, I see the whole red carpet thing as being totally unrelated to real life.
