I have not yet read One Crazy Summer, though it's definitely a frontrunner. (Me and my fantasy fixation!) I am pulling for The Dreamer and The Night Fairy for Honor books, assuming OCS is as good as everyone says it is. And of course, I am always up for a Megan Whalen Turner win, yet I worry (as do others) that a book in a series might not get the same respect as a standalone. So we'll see what happens with A Conspiracy of Kings.
While we're at it, let's just acknowledge that Kate Milford's The Boneshaker is one of the best books of 2010, not to mention a superior representative of the wave of new paranormals. Saying it's derivative of Ray Bradbury's work is ridiculous; Bradbury is clearly simply an inspiration, and not the only one. Milford's book stands on its own two creepy feet!
You'll also find some interesting thoughts from Betsy and commenters about how a number of the Newbery candidates seem to border on YA. Looking back, I'd say Lois Lowry's The Giver is a shining example of this sort of thing. Maybe we can call it Merchant-Ivory Syndrome: books with Serious Themes tend to dominate whenever somebody's passing out literary awards. And serious has a way of sounding more mature. (See Betsy's note on humor.)
I have less of a commitment to the Caldecott possibilities this time around. I would love to see Oh No! (Or How My Science Project Destroyed the World) by Mac Barnett and Dan Santat win an award. I just read David Wiesner's Art & Max and wasn't as sold on it as I was on Flotsam, but it's certainly pretty. (And I do applaud the theme of encouraging less-restrained creativity.) Still, I'd probably go with a poetry book like Mirror Mirror or Ubiquitous. But then, I have a poetry bias.
Except that Seven Imp is saying Mirror Mirror doesn't qualify... rats! Here's more Caldecott fun with Jules, who takes a look at Betsy Bird's suggestions, then adds some of her own. Lots of gorgeous art to peruse.
So, what do you think?