The Academy of Motion Picture Arts and Sciences officially announced today that iconic comedian Eddie Murphy would host the 84th Annual Academy Awards in 2012.

Few comedians today have seen as varied a career as Murphy, who is (correctly) regarded as one of the most electrifying comic actors of all time based on his early stand-up, stint on “Saturday Night Live” and especially his work in film in the 1980s.

But then came the ’90s, and with it, a career slump that included a string of flops, a public arrest and numerous family issues. And despite a few standout films (such as his remake of “The Nutty Professor” and “Bowfinger”), as well as the lucrative “Shrek” franchise and an Oscar nomination, Murphy never quite regained the mega success that he saw early in his career.

Enter action-comedy director Brett Ratner, whose upcoming release “Tower Heist” sees Murphy playing a character similar to his early roles. Ratner also happens to producing next year’s Academy Awards, and submitted Murphy as his only choice as Oscar host.

Here’s an overview of some of the reasons we’re not sure if we’re excited for or dreading Murphy’s upcoming appearance. What do you think.

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