Yes, this Oscar year has had a fairly poor showing of high grossing decent movies, very much unlike last year that gave us Oscar nominations and box office hits like Up, Avatar, Inglourious Basterds, and District 9. This year all we've been shown is a visual beauty in Inception and then a fair amount of weakness as we've only seen re-makes, adaptations, and re-adaptations like True Grit, Tron, and a very good movie in Black Swan. The King's Speech is brilliant though. It's simple, it's beautiful, it's wonderfully written, impeccably acted. Geoffrey Rush might have to fight out Christian Bale for best supporting actor, but that'd be a good fight to see. This might be the year that Colin Firth gets it all though. Last year was disappointing for him, losing out to Jeff Bridges in Crazy Heart. This is not to say that Jeff Bridges wasn't incredible, but Colin Firth in A Single Man was much better.
Go and see the movie. It will make you uncomfortable as you know that every word Firth needs to say just won't come out of his mouth. You'll wriggle and worm about shouting (though, not out loud to disturb other viewers), "Spit it out! Say it for god's sake!"
Overall, one of the best movies of the year in a very poor showing of academy-caliber film.