I am a sucker for awards show, though I nearly always hate myself afterwards and need to take a shower after seeing all of the pretentious self-congratulating.
One thing I have always despised is that there are far too many solo performers or bands performing the same songs they perform at other shows. When you have such great talent under one roof, you should encourage people to duet or collaborate in some way. Give the audience something different. We deserve it.
So that's when I think of great performances from past awards shows, I think of the 1989 MTV Music Video Awards, when Tom Perry started in on "Free Fallin'" and then, as a complete surprise, Axl Rose walks onstage and begins dueting with Petty. Great stuff. It's why I keep watching awards show. (And Ricky Gervais is why I watch the Golden Globes, which doesn't have any music.)