Pro: The veteran actor was previously nominated for his role in Quentin Tarantino's "Jackie Brown" almost 14 years ago.  Besides stars George Clooney and Shailene Woodley, he's the first name most Academy members mention when thinking about the performances in Alexander Payne's acclaimed dramedy. He's an underdog, but if the movie continues to be adored by the industry he could ride the wave to the Kodak Theater.

Con: Similar to Judi Dench in "J. Edgar" and "My Week with Marilyn," it's a very small role (effectively two long scenes or sequences).  Is it really memorable enough to land a nomination?