What is it? An adaptation of the musical version of the Charles Dickens novel Oliver Twist, about a young orphan who falls in with a crowd of pickpockets but isn't a bad kid really.
Why did it win? The continued dominance of musicals with any pretension to literary-ness? The irresistible rakishness of the young Oliver Reed? The adorability of Oliver himself, Mark Lester? The fact that 2001 makes hardly a lick of sense unless you are a) indulging in illegal substances or b) sitting with Arthur C. Clarke there to explain it? Frankly, we're not sure.
Did it deserve to win? Not even close. Among the other nominees were The Lion in Winter and Zefferelli's Romeo and Juliet; not even nominated was a little film by Stanley Kubrick called 2001: A Space Odyssey. Also If..., and Once Upon A Time In The West, and this was the year of Bullitt and The Producers and Night of the Living Dead, Rosemary's Baby and Planet of the Apes. Freakin' Oliver. Sheesh.
Worth a look? No - watch 2001 instead: if you're half asleep it kinda makes sense.