This episode correctly shows that Marlon Brando did not attend the 1973 Academy Awards, but mistakenly includes Anthony Ippolito as Al Pacino (screen right, next to Robert Evans (Matthew Goode)). Both Brando and Pacino boycotted the Oscars that year: Brando sent Sacheen Littlefeather (played here by an uncredited actress) in his place to make a political speech against Hollywood's portrayal of Native Americans and to draw attention to the standoff at Wounded Knee; Pacino boycotted as a protest for being nominated for "Best Supporting Actor", even though he had more screen time in the film than Brando (who was nominated for Best Actor).
Mario Puzo (Patrick Gallo) mentions that he has been courted by Warner Brothers to write the screenplay for a Superman movie. His work for this has several parallels to his work on "The Godfather": in both cases, his work would be split into two films (his novel "The Godfather" was adapted into The Godfather (1972) and The Godfather Part II (1974); his Superman screenplay would eventually become both Superman (1978) and Superman II (1980)); both would star Marlon Brando; both made household names of relatively unknown leading men (Al Pacino and Christopher Reeve); and both would set new standards for their respective film genres (gangster and superhero).
In the 1973 Academy Awards scene, Albert S. Ruddy is presented with his first Oscar for Best Picture by Clint Eastwood (heard, but not seen). Over 30 years later, Ruddy would share his second Best Picture Oscar with actor/director/producer Eastwood for Million Dollar Baby (2004).
When Francis Ford Coppola doesn't win the Best Director Oscar, Robert Evans (Matthew Goode) comments, "That's all right, you'll get the next one." Coppola did indeed win Best Director for The Godfather Part II (1974) -and as producer for the second film, won the Best Picture Oscar as well (the first sequel to ever win Best Picture).