The Lion and the Mouse by Jerry Pinkney- my pick for the Caldecott Medal
I stand by my personal pick for Newbery, The Magician's Elephant by Kate DiCamillo (even though she probably won't be chosen since she's a previous winner). But I would be pleased as punch to see Grace Lin get a nod, since she's written some wonderful books that have been overlooked.
The Printz Award for young adults has me a bit perplexed. When You Reach Me by Rebecca Stead has been getting all the buzz. Wintergirls by Laurie Halse Anderson is a solid choice, too, but has limited appeal since it's a "girl" story. My choice: Leviathan by Scott Westerfeld.