It probably has a strong chance of winning the best song.
That will probably go to "Les Miserables"
Everyone's been talking about Anne's rendition of "I dreamed a dream" for months
My wife is a huge Adelle fan (she won't even listen to the SKYFALL song ever again, likes to pretend it didn't happen) and she mentioned hearing this was something like a one-shot recording, that she spent about 10 minutes on it (and to be fair, it sounds like it, it has to be among the weakest things she has ever recorded.)
Probably victim of the usual Bond thing, which is cram stuff into postproduction in as tiny a space as possible. They could have had her working on it for 18 months, but I guess they just dicked around. Well, they got their money's worth anyway, in hype if not in quality.
The fact the academy is already planning a Bond tribute makes me think they will probably win something this year, deserving or not. Oscar has had way too many of these 'too cool for coincidence' events, ranging from Sean Connery presenting the oscar that Catherine Zeta-Jones won to Lucas & Spielberg presenting best director the year Scorsese happens to finally win one. Would those guys have been handing it out to somebody else? If there was even a CHANCE they'd be handing it to somebody else, someone else would be up there handing it out.