Previous nominations or Wins:
Won, Best Actress, "La ciociara ("Two Women")" (1962)
Nominee, Best Actress, "Matrimonio all'italiana (Marriage Italian Style)" (1965)
Honorary Award (1991)

Pros: A true living legend and one of the few icons to harken back to the golden age of cinema and more importantly Italian film.  To say she's beloved and revered by even the youngest members of the Academy is an understatement of epic proportions.  Even better, rumors say she's fantastic in her scenes as Daniel Day-Lewis's mother in the movie musical. But...

Cons:...the role is said to be almost as minor as a brief cameo.  Could she be denied a final salute by alack of screen time?