In his 1993 book ALTERNATE OSCARS, CULT MOVIES author/film critic Danny Peary posits that, in most cases, the Academy got it wrong. So he "second-guesses" the Academy and awards his own Oscars to those films he thinks should've actually won.
Note: Danny Peary does not award a Best Picture Oscar for the year 1963 because he feels that in that year "...no film had the stature or emotional impact to be worthy of a Best Picture Oscar."
Here are his picks for Best Picture from 1927 - 1992 (the present when his book was published):