In general I think award shows are a horrible, decadent waste of time. I’ve often described them as an orgy of self-congratulation and self-adulation put on by Hollywood to celebrate itself. The one exception is the Grammys. The primary reason I find the Grammys interesting is that they usually have collaborations between singers/groups and even between genres that are really interesting and often quite good. (I remember one year when Coldplay played “Politick” with the London Symphony. Another year Moby and the Blue Man Group and some gospel singer did an unbelievable song.) I’ve been in and out of tonight’s Grammys show. I evidently was too late to see Coldplay, and only caught the last half of U2 (joined on their second song by Mary J Blige – again, crossing genres and artists). 
But I have been very pleased to note that U2’s How to Dismantle an Atomic Bomb won rock album of the year, and “Sometimes You Can’t Make it on Your Own” won song of the year.
UPDATE: U2 finished with five grammys, including best album of the year I don’t fully understand the grammys in that said album was released on November 23, 2004. But I’m not complaining.