We're live at the Egyptian Theater in Park City for Sundance's opening night press conference. Below are the key notes of the presentation, titled "Festival of Discovery of New Talent, New Stories and Convergence of Film, Art & Music."

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He cites "Waitress" and "Once" as films that came out of nowhere last year and found audiences.

2:45 PM - Redford gives a lengthy but heartfelt explanation of his affection for documentaries. How in Sundance's early years, he didn't know if docs would survive but now they are thriving as documentary filmmakers have moved past just talking heads to making real 'films.' He mentions "Hoop Dreams" as a documentary that really paved the way for mainstream acceptance of docs.

2:37 PM - Redford says he always hears buzz before the fest about certain films but there are always surprises that pop up during Sundance.

2:29 PM - Martin McDonagh, first time film director, of opening night film "In Bruges" with Colin Farrell and Ralph Fiennes is on stage with Redford and Geoffrey Gilmore.

Redford cuts off Gilmore's long-winded introduction of McDonagh by saying "let him talk!" Which cracks up the media crowd.

2:22 PM - Gilmore, programming director of the festival, says the documentaries at this years event really epitomize the adventurous film making nature the festival loves to embrace.

2:07 PM - Festival founder Robert Redford walks on stage for opening press conference. Dozens of reporters, photographers have filled the Egyptian theater on Main Street for this event.

Redford says the festival is dealing with the changes it has gone through in recent years but says it hasn't lost its way. He also notes there are more new filmmakers this year than any year since the early years of Sundance.