Would it or wouldn't it? Any questions about Argo's Oscar hopes may have been answered with a win at the Producers Guild Awards last night or it may have inflamed the ongoing speculation and accompanying debate even more.

The PGA award arrives as the latest triumph for “Argo,” which won the Golden Globes motion picture-drama prize on Jan. 13. With the producers' translucent cut-glass statuette in Affleck’s and Heslov’s hands (Clooney missed the event because he was working on another movie), the '70s-set Iranian rescue drama solidly re-established itself as a viable best picture Oscar contender after many gurus of gold had counted Affleck and Co. out.

The PGAs are considered a bellwether of the best picture prize at the Oscars and can turn a race in a movie's favor. Two years ago, for instance, “The King's Speech,” facing a challenge from “The Social Network,” picked up the top prize at the PGAs en route to its Oscar triumph.

In the evening’s other marquee category, outstanding producer of episodic television, Showtime’s “Homeland” scored a PGA victory, beating “Breaking Bad," "Downton Abbey," "Mad Men" and"Game of Thrones."

A complete list of winners at the PGAs can be found by clicking here.