THE FASHIONS

HER FIRST DRESS didn't work out. Her diamond earrings broke on the way to the show. But Susan Sarandon -- last seen as a nun without makeup -- still managed to waltz away from the Oscars as the evening's most elegant presence. Sharon Stone helped her out, willingly vacating the top style spot by grabbing some old duds from her closet. And while Nicolas Cage looked mighty suave in his Hugo Boss tux the minute before Jessica Lange beamed his good news, he showed up at the podium with his bow tie crooked and his face smudged after a lip lock with wife Patricia Arquette. In a night of sudden reversals of fashion, though, one big change didn't materialize. In the weeks leading up to the show, a host of designers had staged a bigger-than-ever blitz to push Giorgio Armani off the top of Oscar's fashion heap. Not for naught, Versace, Valentino, Donna Karan, and Calvin Klein were amply represented, but Armani nevertheless ended up dressing best director Mel Gibson, best screenwriter Emma Thompson, and best supporting actors Mira Sorvino and Kevin Spacey. Not even Braveheart mustered a sweep like that.