If Newman hadn't been up against Ghandi, he probably would have. I think the Academy realized their error and Newman's win for The Color of Money was really for his portrayal of Frank Galvin, in this well-done tale of moral decrepitude and ultimate redemption. Writer Mamet and Director Lumet are into heavy symbolism throughout, with the scene of the developing Poloroids of the victim (the case becomes clear in Galvin's mind), to Galvin's pilfering of a woman's mail to run down a lead on a potential witness. The closing statement of Newman's character to the jury is powerful.