HOLLYWOOD — The “Lost in Translation” team marveled at U’s splashy DVD launch party for the modestly budgeted Oscar contender. Shindig put the pic’s theatrical preem to shame.Focus Features co-prexy James Schamus called the New York bow rinky-dink in comparison to Tuesday night’s spread at Koi restaurant. “But I think we had sushi there, too,” he added. “I didn’t realize homevideo did these elaborate parties,” said helmer Sofia Coppola, whose father made his entrance before her. “It’s kind of unreal.” Aside from eating Japanese food and drinking sake, the main activity was karaoke singing in the backroom, which went on until 1 ayem. It’s a good thing the filmmakers are up for Oscars, because they don’t have a chance in hell for Grammys. Quentin Tarantino mused about Peter Biskind’s new book “Down and Dirty Pictures,” noting that Miramax topper Harvey Weinstein “is both the book’s hero and its flamboyant, James Bond-ian villain.” Also on hand: U homevid topper Craig Kornblau, Beck, Ione Skye, Kelly Lynch and Anthony Kiedis.