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Gwyneth Paltrow Oscars Dress 2012: Tom Ford White Cape! (PHOTOS)

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After Gwyneth Paltrow's stunning Calvin Klein gown at last year's Oscars, we wondered if she could pull off another style win this year.

Good news! We think Gwyneth, who was there to present an award, totally nailed it, showing up in an equally striking Tom Ford white cape dress, about which television commentators immediately crowed their praise.

The "Contagion" actress limited her jewelry to a sparkly cuff bracelet and kept her hair just as sleek, slicking it back in a low ponytail.

Bravissimo! See photos below.

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