I thought Jon Stewart did a fine job as Oscar host, but I can understand them wanting to go with a more "traditional" choice. And with Ellen, I think the mainstream people get someone who they can enjoy (her daytime talk show is a hit) and the people who want their humor a little more wiseass will get their way too (people forget Ellen can be quite clever).
In this interview with TV Guide, DeGeneres promises not to suck, and also says that she's not going to copy what people in the past have done. Meaning, she's not going to put on the dance shows and dance a la Billy Crystal. She does say that it's going to be a little more fun and casual than most years.
And her favorite Oscars host was Johnny Carson, so that's a good sign.
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