What has Telluride 2009 taught us over the last three and a half days? One, that Up In The Air is a lock for a Best Picture nomination and probably the front-runner until Invictus comes along. Two, The Last Station isn’t necessarily a Best Picture contender, but it will surely be acquired forthwith (probably by Sony Classics, I’m guessing). Three, Red Riding is destined for major-cult-film status. And four, Werner Herzog‘s Bad Lieutenant: Port of Call New Orleans will probably sell more tickets than My Son, My Son because it’s weirder and dopey-loopier by the grace of Nicolas Cage.

A currently in-progress seminar called “The Edge of Humor: When Does the Laughter Stop?,” which began in the Telluride town park at noon today. (l. to r.) Anne Thompson (moderator), Nicolas Cage, George Gittoes, Nicolas Cage, Jason Reitman and Paul Schneider. (Alexander Payne was scheduled but didn’t show.)

Nic Cage following today’s “Edge of Humor” panel.

(l.) An Education‘s Carey Muligan and Fish Tank‘s Katie Jarvis. (Photo taken by Indiewire‘s Eugene Hernandez.)