This is big news for animation. Up has been nominated for Best Picture category. This marks the second time in the history of animation. Beauty and the Beast was nominated in 1991. While Snow White won a special Oscar it was never nominated. A few years back a new category was created specifically for animated features. This was considered a double edge sword. On one side animation features were getting recognition. On the other people wondered if animation would ever now be considered to compete in the best picture category. It was believed that it could alter voters perception that animation is even a best picture contender. So it seems that the voters do indeed accept animation as a best picture. However it is "up" against some stiff competition and probably is the long shot to win over it's live action counter parts. Would be cool to see it win!
Congrats to all who worked on it!