Firstly, please stop using The Kings Speech as an example of a film being "Oscar Bait" as it detracts from the fact its a fucking good film. *puts Union Flag away*
While I agree with what you say, I really wish I could blame the studios, but releasing a film right next to when the Oscars are going to be announced means its more likely to be in the mind of whoever votes for these things. I remember listening to a film show a number of years ago where they said they were surprised Crash [http://www.imdb.com/title/tt0375679/] had managed a nomination because it had been released in the Spring rather then Autumn.
Personally, I think they should show film fans some love during the "Summer Shit" season and re-release older films (older as in "Classics") for those that want to go to the cinema and not see Transformers. A lot of these films are being re-worked to clean up the prints for Blu-ray, so why not give them a limited run to remind people (or show new audiences) that its good and worth buying?
EDIT:
MacNille said:
Extremely Loud and Incredibly Close Does not deserv it nomination at all! It have a rotten status on Rotten Tomeatos as of this moment and it scream OSCAR BAIT all over it.
This is the only film on the Best Film list I hadn't heard of this year, and thats a surprise for me as I like to keep up with film news. *runs and checks IMDB* Wow, a 9/11 story 10 years after. No wonder it got a nom. *watches trailer* I think I just got diabetes. Excuse me while I go throw up. After my earlier comment, can you please replace the Kings Speech in every show where you complain about Oscar Bait with this thing. Kings Speech was a great film that just happened to include things the Academy likes where as this film seems to be ticking a checklist on purpose.