At the time, I was really disappointed that L.A. Confidential didn't win the top prize. I still think its a much, much better film that Titanic. But with more time to reflect, and after thinking about which other films have won, before and after 1997, I think Titanic was far more significant than L.A.Confidential, socially, culturally and financially. These are what determine a Best Picture winner. It doesn't matter that LAC was a (much) more artistically significant film. Its customary for films of this nature to get a nomination, but ultimately Hollywood is about money, and the awards handed out are reflective of that purpose. In that regard Titanic was the rightful winner, and thoroughy deserved it!