Ralph Lauren pulled out all the stops Saturday night with a fashion show and gala dinner fit for a king...of fashion. If the A-list crowd's response to the runway show was any indication, Lauren, celebrating his 40th anniversary as a designer, presented one of his best yet.  "I loved it!" a chipper Martha Stewart exclaimed after the show. The domestic diva energetically snapped photos on her digital camera from the front row throughout the show. The highlight for Stewart: Lauren's Derby hats. "I also loved the floral prints, especially the orange dress," Stewart said. "And the riding pants, of course. Though I dare not wear those while riding my horses!"

Following the tented runway show, the catwalk's backdrop, a mural of socialites hob-nobbing at a horse race, opened up Price Is Right-style to reveal the breathtaking dining area at The Conservatory Garden. Guests, including Sarah Jessica Parker and hubby Matthew Broderick, Dustin Hoffman, Robert DeNiro, Diane Sawyer, John Mellancamp and Barbara Walters noshed on goat cheese souffles, leg of lamb and gourmet strawberry shortcake in the elevated dining area, neatly accented by massive chandeliers and oversized white foral arrangements.  Man of honor Lauren had this to say to the elite crowd pre-dessert: "If I had to dream of a perfect night this would be it. I'm so proud to be here. I can't believe I'm living this life."  -- Alison Maxwell

The look: The first part of the special presentation was decidedly Kentucky Derby with a domintrix edge. Models sauntered down the runway in black and white riding-inspired getups with touches of patent leather. Ensembles were paired with fishnet stockings and rhinestone encrusted riding sticks. The Pierces' Boring (Lyrics: Sexy boy, girl on girl, manage trois. Boring. Marijuana, Cocaine, Heroin. Boring.) Phase two of the show featured printed floral day dresses in brights with cascading ruffles and hems. For the third segment exaggerated polo prints in bright pinks, greens and yellows appeared bags, shirts and jodfurs. Lauren returned to traditional elegance during the final grouping with simple evening gowns in bold yellows and purples and soft whites. He punctuated the presentation with a gold chain link red carpet-ready gown. At the conclusion Frank Sinatra's The Best is Yet to Come poured over the soundsystem and the notorious future-looking Lauren greeted well-wishers.

Also spotted: Robert DeNiro bypassing the press line, but answering a resounding "Yes!" when asked if he loves Ralph Lauren. John Mellancamp puffing a cigarette and directing questions to wife Elaine. Designers Donna Karan, Vera Wang and Carolina Herrera holding court on the front row. New York Mayor Michael Bloomberg and Robert Kennedy Jr. posing for photos with the extended Lauren family.