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"THE ACADEMY AWARDS," 6 p.m. Monday (7) (3) (10) (42)--The envelope, please. . . .

You can usually count on the Oscars to be the most glamorous, if not the most entertaining of the annual award telecasts. And this year's event on ABC promises more of the same.

TV stars may be more popular and rock stars more exotic, but movie stars still carry a special aura that makes Oscar night unique as a celebration of the arts and the movie industry's creative and economic underpinnings.

One of Monday's highlights is expected to be the awarding of an honorary Academy Award to James Stewart, the durable 76-year-old star whose 50 years in the movies have earned him five nominations, but never an Oscar.

Also receiving a special honor--the Jean Hersholt Humanitarian Award--will be producer David L. Wolper, who ironically is best known for his TV work. Wolper, who produced such blockbuster television miniseries as "Roots" and "The Thorn Birds," most recently drew praise for producing the Opening and Closing ceremonies for the 1984 Summer Olympics in Los Angeles.

The night will blend the old and the new.

Jack Lemmon (seen on the cover), although a veteran star and an Oscar winner himself, will provide a new face as emcee of the 57th Academy Awards, succeeding Johnny Carson in that capacity. And in a new twist, Lemmon will be assisted by 10 less venerable co-hosts. They are Candice Bergen, Michael Douglas, Gregory Hines, William Hurt, Amy Irving, Diana Ross, Tom Selleck, Kathleen Turner and nominees Glenn Close and Jeff Bridges.

The telecast, again originating from the Dorothy Chandler Pavilion of the Music Center, will be directed by Marty Pasetta and produced by Gregory Peck, Robert Wise, Larry Gelbart and Gene Allen.

And the winner is. . . .

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