Helen Mirren has given what could be the performance of the year in Stephen Frears’ (“Dirty Pretty Things”) “The Queen.” The acclaimed actress is phenomenal, her performance as Queen Elizabeth dealing with the aftermath of Princess Diana’s tragic death one of the finest I’ve seen all year. If I were a betting girl (and goodness knows I’ve had that label placed on me a time or two) I’d put money on Mirren to win right now, the chances of anyone else out their taking her place on the Kodak Theater podium someplace between slim and none.

But this movie isn’t all about her. Peter Morgan’s (“The Last King of Scotland”) fantastically realized script is a fictionalized take on what might have happened between the Queen and newly elected Prime Minister Tony Blair (Michael Sheen), both characters sitting center stage. The film is a ticking clock procedural along the lines of “Call Northside 77” and “All the President’s Men,” only here it is the world of the British monarchy examined and not a death row murder or the American presidency.

Frears follows the days after Diana’s car crash like a journalistic investigator, chronicling them both inside the royal family and in Blair’s government. For a normally staid and relatively unemotional England, the death of the beloved former princess hit the country – and the world – like a slap to the face. The outpouring of grief surprised the monarchy, the reserved and restrained Queen more than anyone. She had always been brought up that events like this were best kept in the family and should be nobody else’s business, and the fact a public whom had always loved and respected the woman was now turning on her because of perceived insensitivity really threw her and the rest of the royals for a loop.

On the other hand, Blair came from the Bill Clinton school of public relations. He knew the value of playing to constituents’ emotionalisms, reading almost right from the start Diana’s death would be a shockwave through the country requiring delicate, if immediate, handling. He also knew the monarchy, and the Queen in particular, were not reading this situation correctly, pooling all of his resources to make her understand why her lack of a personal statement or her willingness to fly the Buckingham Palace flag at half-staff was infuriating the populace so vehemently.

And that’s the movie, but by the time Frears and Morgan reach their coda it suddenly hits you that “The Queen” is really so much more. While those that think the British monarchy is idiotic will find much to assist their case, those feeling it is a timeless institution worthy of continuance will find just as much information supporting their opinions, too. What the film does brilliantly, however, is showcase just how much the Queen means to England and, inversely, just how much the British people mean to her. It is a magnificent reading of events peering straight into the minds of two people dealing with tragedy and grief in their own unique ways, both with a deep and passionate love for the populace who keeps them in their respective positions of power and importance.

I loved this movie. There is no other way to say it. Mirren is perfection incarnate. Sheen, already having inhabited the early days of the British Prime Minister so beautifully in Frears’ and Morgan’s BBC production “The Deal,” is near-brilliant this time around. James Cromwell (as Prince Philip), Sylvia Sims (as The Queen Mother), Alex Jennings (as Prince Charles) and Helen McCrory (as Cherie Blair) all give magnificent support as a few of the players adding their voices to the proceedings, while cinematographer Affonso Beato (“Dark Water”), editor Lucia Zucchetti (“Mrs. Henderson Presents”) and composer Alexandre Desplat (“The Upside of Anger”) all do superb work bringing the these events to life.

It is Mirren you will remember long after the curtain closes, however. This stunning performance is as complex and multifaceted as any you could possible imagine. Queen Elizabeth has sat on her throne since WWII. Her first Prime Minister was none other than Winston Churchill. She was raised to be prim and proper and not let anyone see her as being otherwise. Mirren nails every idiosyncrasy you could ever imagine the revered monarch could possibly possess. She becomes the Queen, inhabiting her persona so completely you forget you’re watching an actor and not the real person.

The best film Frears has made in years (at least since “Dirty Pretty Things,” probably since “The Grifters”), thanks to Mirren “The Queen” is royal entertainment worthy of celebration. It is an Oscar-worthy achievement made for audiences with both taste and intelligence. In point of fact, I’d go so far as to claim it perfect, and while that might be a bit too extreme my asserting it as one 2006’s best films certainly is not.