But it was Beyonce's big night. She was the leading winner of the 52nd annual Grammy Awards, becoming the most decorated female ever on a Grammy night as she collected six trophies, including song of the year for her anthem "Single Ladies (Put A Ring On It)."
"Early Show" Special Correspondent Damien Fahey spoke with Beyonce.
She told Fahey she was too young to understand the first time she won with Destiny's Child.
"Now I know how amazing this night is," she said. "I'm sorry I'm getting emotional, but I'm just so lucky and blessed."
Fahey said when she won, they cut to a shot of her husband, Jay-Z, who looked very proud.
"He was like, 'That was my woman,'" Fahey said.
Beyonce responded, "That's so embarrassing when they do that."
Swift, who won a total of four awards, jumped around like the 20-year-old kid that she is when she beat out Beyonce, the Dave Matthews Band, Lady Gaga and the Black Eyed Peas for the honor.
"Oh wow thank you so much! I just hope that you know how much this means to me ... that we get to take this back to Nashville," said Swift, whose "Fearless" was last year's best-selling album of any genre.
Swift said during a press conference she was going to carry her awards for "as long as they'll (her) have them."
Beyonce's Grammys were for: song of the year for her hit, "Single Ladies (Put a Ring On It)," best R&B song for "Single Ladies," best R&B contemporary album for "I Am ... Sasha Fierce," best R&B female vocal for "Single Ladies," best female pop vocalist for her song "Halo" and best traditional R&B performance for "At Last" from the movie "Cadillac Records."
Beyonce lost out on record of the year, which went to the Kings of Leon's "Use Somebody." But the entertainer still owned the most awards of the evening.
Beyonce in 2004 won five Grammys on the strength of her debut album "Dangerously in Love," a mark tied by the likes of Alicia Keys, Norah Jones, Lauryn Hill, Amy Winehouse and Alison Krauss. She reached that milestone again Sunday en route to the new record. She is the first to reach that mark twice.
"This has been such an amazing night for me and I'd love to thank the Grammys," Beyonce said after winning best female pop vocal for "Halo."
What she hasn't won, however, is the prestigious album of the year trophy, despite being nominated twice.
The Zac Brown Band won best new artist. The Black Eyed Peas had three trophies, as well as Jay-Z, who won for best rap solo performance and two awards for "Run This Town" with Rihanna and Kanye West.
Rihanna who was forced to bow out of last year's awards as a performer after being assaulted by then-boyfriend Chris Brown, accepted the trophy along with Jay-Z and with Beyonce's young nephew in tow.
Maxwell, up for six awards, also won his first Grammys best R&B male vocal for the ballad "Pretty Wings" and best R&B album for "BLACKsummers' night." The album marked the R&B crooner's return after an absence of eight years from the music business.
Lady Gaga won two Grammys during the pre-telecast ceremony but didn't get a chance to show her multitude of outrageous dresses during the primetime show, losing out on record, song and album of the year. But she made her presence felt when she kicked off the night with a sequined green leotard with massive shoulders as she sang her Grammy-nominated hit "Poker Face" amid an elaborate stage that included dramatic choreography and pyrotechnics.
Moments later, she brought out Elton John as they melded her song "Speechless" and his classic "Your Song" in a performance that featured dueling pianos, and matching glitter-painted faces.
Lady Gaga told CBS News the look was inspired by "ice princesses and magical angels."
Comedian and Grammy host Stephen Colbert, whose Christmas album won the Grammy for best comedy album, announced the first award after a string of Grammy jokes and a salute to Scottish singer Susan Boyle who was not nominated for a Grammy.
He chided the Recording Academy for the omission, saying the music industry was saved last year by "a 48-year-old Scottish cat lady in sensible shoes."
Among the most spectacular performances of the night was Pink's "Glitter In The Air" in which the singer hovered upside down over the stage in a white silk sling attached to the ceiling.
Pink said has been practicing without a net for the performance.
"It's not fun with a net," she said. "You can't do it with a net. That's dumb."
A 3-D homage to Michael Jackson featured a video clip he made of "Earth Song" as Usher, Carrie Underwood, Celine Dion, Jennifer Hudson and Smokey Robinson sang along.
Jackson's young children, Prince and Paris, accepted a lifetime achievement award for their late father.
"Through all his songs his message was simple, love. We will continue to spread his message and help the world," Prince said.
Eminnem and Lil' Wayne collaborated on a rap number that was bleeped so often that some viewers probably thought something was wrong with their TV sets.
Mary J. Blige and Andrea Bocelli celebrated the 30th anniversary of Grammy wins for "Bridge Over Troubled Water" with a special performance of the classic Simon and Garfunkel song, which will be made available on iTunes. The proceeds will be donated to Haiti relief.
Tulsa Sound legend Leon Russell performed with the Zac Brown Band, just two weeks after undergoing brain surgery.
Notable winners in pretelecast presentations in 100 categories under way Sunday afternoon included Michael J. Fox for best spoken world album for "Always Looking Up," and producer and DJ David Guetta, one of the night's top nominees, for best remixed recording, non-classical, for his song "When Love Takes Over."
"I got five nominations so it means that finally DJ culture and dance music is growing in America," said Guetta, who is also nominated for his work with the Black Eyed Peas.