INDIES WON'T DROWN IN `TITANIC' TIDE; SMALLER FILMS MAY STILL MAKE AN OSCAR MARK.

Byline: Bob Strauss Daily News Film Critic

Yes, ``Titanic'' earned a record-tying 14 Academy Award nominations and will surely go on to win an impressive number of Oscars.

But even though James Cameron's ultra-expensive, even more successful disaster epic is leading something of a Hollywood resurgence, it hasn't quite powered this year's Oscar race into the predicted Revenge of the Studios romp. For many voting members of the Academy of Motion Pictures Arts and Sciences, the independent spirit is still afloat.

The big surprise, if not the big news, of Tuesday's nomination announcements was the strong showing made by independently produced films. While they're not dominating the 70th Annual Academy Awards race like they did last year, indies have registered a bigger presence than they were expected to. And in several key categories, work from the off-Hollywood sector squeezed out that of favored industry players.

The most apparent upsets were in the Best Directing race, where such Hollywood household names as ``Amistad's'' Steven Spielberg and ``As Good as It Gets' '' James L. Brooks were blindsided by Britain's Peter Cataneo (``The Full Monty'') and Canada's Atom Egoyan (``The Sweet Hereafter''). ``Monty'' also copped the Best Picture berth that had been reserved for Spielberg's slave-ship saga, helping ``Good Will Hunting'' balance out the ratio against majors' releases ``As Good,'' ``L.A. Confidential'' and ``Titanic.''

Indies can also boast the majority of contenders in three of the four acting competitions (it's three to two, in favor of the studios, for Supporting Actress) and both of the writing categories. But even though that indie spirit may be treading water, what we're seeing of it is essentially the tip of an iceberg.

``Monty'' and ``Will Hunting,'' the highest-profile indie entries, are as calculated to please mainstream tastes as any suit-supervised studio blockbuster. Indeed, ``As Good'' and ``L.A. Confidential'' take bigger artistic risks than either of their indie Best Picture competitors. Meanwhile, truly personal, daring indies such as ``Boogie Nights,'' ``Hereafter'' and Woody Allen's ``Deconstructing Harry,'' while not overlooked, received fewer and generally lesser nominations.

So maybe, aesthetically anyway, this was the year of the big studios' revenge after all. But that's not the whole story. Evidence crops up throughout this year's nominations that actual judgment, not just popularity and sentimentality, influenced some of the voters' thinking.

Among the happier acknowledgments: Robert Forster's Supporting Actor nod for ``Jackie Brown,'' which was a marvel of soulful self-control from a long-forgotten veteran; a field of Best Documentary Feature nominees - ``Ayn Rand: A Sense of Life,'' ``Colors Straight Up,'' ``4 Little Girls,'' ``The Long Way Home'' and ``Waco: The Rules of Engagement'' - that's not embarrassingly obscure for a change; and a single but hugely appropriate recognition for Woody Allen, whose ``Deconstructing'' screenplay boldly exposed darker depths than we'd dared suspected.

In fact, as usual, the writer's branch proved the least conventional, most tasteful bunch of the academy lot, if only because its members refused to give a nod to Cameron's superficial script, ``Titanic's'' weakest element. The same might be said of the actor's branch, but it's hard to believe that Leonardo DiCaprio was snubbed due to anything other than sheer jealousy.

Of course, it just wouldn't be Oscar nominations without some truly appalling oversights. Let's start with the Supporting Actor category, where the wrong portrayal of a gay guy, Greg Kinnear's drippy ``As Good'' bit, beat out much wittier turns by Rupert Everett (``My Best Friend's Wedding'') and Tom Selleck (``In & Out''). And where are any of ``L.A. Confidential's'' fabulous five - James Cromwell, Russell Crowe, Danny DeVito, Guy Pearce and Kevin Spacey?

Honestly, could Robin Williams hold a candle to any of those performances, even if it he'd said ``It's not your fault'' twice as many times?

Also absent from any of the major categories are, once again, people of color. In a year when ``Jackie Brown's'' Pam Grier, ``Amistad's'' Djimon Hounsou and the entire casts and top creative personnel of ``Eve's Bayou'' and ``Soul Food,'' among others, seemed viable candidates, it appears Jesse Jackson once again has good reason to complain.

Well, maybe Spike Lee, who directed ``4 Little Girls,'' won't get robbed again. At least he's not competing against ``Titanic,'' the 800-ton behemoth that, regardless of whatever else happens the night of March 23, is sure to be the big news once again.

Oscar facts

None of this year's 20 recipients of Academy Award acting nominations got nods last year.

This marks the second time in the past three years that all five directing nominees are first-time nominees, according to the motion picture academy.

The two men with the most Oscar statuettes of all time are Dennis Muren for visual effects and Alan Menken for music. Each has eight, according to the academy.

Jack Nicholson picked up his 11th Best Actor nomination, becoming the most nominated male performer ever. He passed the legendary Laurence Olivier, who had 10 career nominations. Bette Davis and Meryl Streep also have 10 career Oscar nods. But Nicholson still trails Katharine Hepburn, who has received a dozen Oscar nominations in her illustrious career. Nicholson won a Best Actor Oscar for his role in the 1975 film, ``One Flew Over the Cuckoo's Nest.'' Eight years later, he took home the Best Supporting Actor Oscar for his portrayal of an aging playboy astronaut in the James Brooks film ``Terms of Endearment,'' opposite Shirley MacLaine.

Woody Allen became the most nominated screenwriter of all time, with 13 career nominations, eclipsing the fabled Billy Wilder, who had a dozen.

The Oscar nominations of ``Titanic'' stars Kate Winslet and GHloria Stuart mark the first time in Academy history that two performers have been nominated in the same year for playing the same character. Winslet played the young Rose Calvert in the James Cameron-directed epic, and Stuart played the 101-year-old Calvert.

Stuart, nominated for Best Supporting Actress in ``Titanic,'' at 87 is the oldest performer ever nominated. The previous record-holder was Jessica Tandy, nominated at 84 for ``Fried Green Tomatoes'' in 1992.

These films received multiple Academy Award nominations:

``Titanic'' (14)x; ``L.A. Confidential'' (9); ``Good Will Hunting'' (9); ``As Good as It Gets'' (7); ``Amistad'' (4); ``The Full Monty'' (4); ``Kundun'' (4); ``The Wings of the Dove'' (4); ``Boogie Nights'' (3); ``Men in Black'' (3); ``Anastasia'' (2); ``Con Air'' (2); ``Air Force One'' (2); ``Mrs. Brown'' (2); ``The Sweet Hereafter'' (2); ``Wag the Dog'' (2).

x This ties the record for most nominations ever for one film; the previous was ``All About Eve'' (1950).

CAPTION(S):

Drawing, 30 Photos, Box

Drawing: (Cover--Color) FULL SPEED AHEAD

With 14 Oscar nominations, `Titanic' sails into rare waters, but will it reach the winner's podium?

Jon Gerung/Daily News

Photo: (1--Color) AS GOOD AS IT GETS: James L. Brooks' quirky love story about an obsessive-compulsive novelist who falls for a single-mother waitress is a hit with both critics and audiences. But it won't win here, mostly because Brooks wasn't nominated for his direction.

(2--Color) THE FULL MONTY: Sentimental favorite about a bunch of working-class stiffs who improve their self-esteem by shedding their clothes. Everyone is glad it's nominated, but nobody thinks it will win.

(3--Color) GOOD WILL HUNTING: Sentimental favorite about a working-class stiff who improves his self-esteem by shedding his painful past. Everyone is glad it's nominated, but nobody thinks it will win.

(4--Color) L.A. CONFIDENTIAL: Acclaimed detective thriller has won every critics prize. But critics don't count anymore. This film lost the Golden Globe Hto ``Titanic'' and will suffer the same fate on Oscar night.

(5--Color) TITANIC: Odds-on favorite (they're engraving the Oscar now), ``Titanic'' will win because its phenomenal success validates Hollywood's excessive ways. Oh yeah, the movie is pretty good, too.

BEST ACTRESS NOMINEES

(6) HELENA BONHAM CARTER (``The Wings of the Dove'': Acclaimed British actress who won raves for a movie that the general public never saw. Her smoldering performance has won several awards, but she lost the Golden Globe to Judi Dench. Remains an Oscar favorite, though.

(7) JULIE CHRISTIE (``Afterglow''): Acclaimed British actress who won raves for a movie that the general public never saw. Nomination comes 33 years after winning for ``Darling'' and 27 years after losing for ``McCabe & Mrs. Miller.'' This year, she's a real long-shot.

(8) JUDI DENCH (``Mrs. Brown''): Acclaimed British actress who won raves for a movie that the general public never saw. You might recognize her from playing Bond's boss in the last two 007 movies. After Oscar night, you might recognize her - and her movie - even more.

(9) HELEN HUNT (``As Good as It Gets'') : Lone American in the category. Could get the vote from Academy members miffed about the British invasion. Hey, we'll vote for her if it gets her off ``Mad About You.''

(10) KATE WINSLET (``Titanic''): Acclaimed British actress who won raves for a movie that everyone has seen. Could book passage to the winner's podium if ``Titanic'' leaves all comers in its wake.

BEST ACTOR NOMINEES

(11) MATT DAMON (``Good Will Hunting''): Has the votes of young, egomaniacal actors who would also like to write a hit for themselves. Advantage of being only wrinkle-free nominee neutralized by fact most academy members are grandparents.

(12) ROBERT DUVALL (``The Apostle''): Has the votes of older, egomaniacal actors who would also like to write and direct a career showcase for themselves. Disney bloc may resent his glorification of people who are boycotting thHeir company.

(13) PETER FONDA (``Ulee's Gold''): Comeback of the year. No, wait, that's not Henry. It's Peter, whose career never really went anywhere to come back from, but who did finally prove he inherited some of his father's talent. Reported to be heavily lobbying Nicholson to agree to a now commercially viable ``Easy Rider'' sequel.

(14) DUSTIN HOFFMAN (``Wag the Dog''): His sharpest, best work in years. But he's not quite the guy everyone wants to win a third Oscar this year. Disciples of Robert Evans, the producer Hoffman expertly lampoons in his performance, can't decide if they were enthralled or offended.

(15) JACK NICHOLSON (``As Good as It Gets''): Not only worked the eyebrows, but also the old imagination for the first time in a decade. Nominal front-runner, for that and for being the guy everyone wants to see win a third Oscar.

BEST SUPPORTING ACTRESS NOMINEES 

(16) ROBERT FORSTER (``Jackie Brown''): Quentin Tarantino's latest reclamation project stole the show as the crafty bail bondsman. But a nomination will be as good as it gets for him.

(17) ANTHONY HOPKINS (``Amistad''): He plays a former president who had both intelligence and integrity. Talk about a departure from history!

(18) GREG KINNEAR (``As Good as It Gets''): Beat out Rupert Everett for category's token gay nomination. But if you want him to win, you'd better say a little prayer on Oscar night.

(19) BURT REYNOLDS (``Boogie Nights''): Wonder if Reynolds will be sending an apology note to his former agent, who he fired a few months back because Reynolds hated ``Boogie Nights.'' Should lose for that act alone, but for some unknown reason he's a front-runner here.

(20) ROBIN WILLIAMS (``Good Will Hunting''): Gives a performance that would inspire the dead poets. Fourth nomination. All the good will Williams has accumulated by filling studios' coffers should make him a factor here.

BEST DIRECTOR NOMINEES

(21) JAMES CAMERON (``Titanic''): If his Golden Globes observation that sHize does matter was right - and he's been much more than right about everything else to do with ``Titanic'' - it'll be smooth sailing to Oscar glory.

(22) PETER CATTANEO (``The Full Monty''): Made a naughty idea cuddly and reassuring, and never made good on the implicit threat to show actual montys. Clearly a savvy move, Oscar politics-wise; just ask ``Boogie Nights'' director Paul Thomas Anderson. But, like his film, don't expect Cattaneo to go all the way.

(23) ATOM EGOYAN (``The Sweet Hereafter''): Has the feel-bad movie vote all to himself. Can't possibly win.

(24) CURTIS HANSON (``L.A. Confidential''): Classy, complex work that half the academy probably didn't understand. Should get some extra votes, though, for the idea that men will pay extra for hookers who look like famous actresses.

(25) GUS VAN SANT (``Good Will Hunting''): Besides including a lot of guys who think they're lovable geniuses, the Hollywood establishment could conceivably reward the once-radical director of ``Drugstore Cowboy'' for selling out so completely.

BEST SUPPORTING ACTRESS NOMINEES

(26) KIM BASINGER (``L.A. Confidential''): As the only featured female in the acclaimed neo-noir's sprawling cast, Golden Globe winner Basinger presents the best opportunity for the critics' favorite film to win something other than a screenplay Oscar.

(27) JOAN CUSACK (``In & Out''): Perfect comic performances often take this category, and Cusack was not only sublimely silly but touching as a lovelorn bride who has good reason to suspect every man she meets is gay.

(28) MINNIE DRIVER (``Good Will Hunting''): Didn't do much more than tell Matt Damon how great he was throughout the movie. But the writer-actor's suddenly former girlfriend has the sympathetic consolation votes of dumped women everywhere.

(29) JULIANNE MOORE (``Boogie Nights''): Decent chance, actually, even if she did play a porno queen. Moore is widely admired for her talent and bravery - and well-liked for lending class to vulgar mHoneymakers such as ``The Lost World.'' Besides, she played a coke-snorting porn star, and Hollywood usually finds addiction more redemptive than sex.

(30) GLORIA STUART (``Titanic''): True comeback of the year, although few living souls remember where from. Gave only genuine expression of heart in cliche-riddled superproduction, whose next most effective performer was the guy who bounced off the propeller blade.

Box: Oscar facts (See Text)