Steven Spielberg proclaimed "The Godfather" the "greatest American film ever made," Robert De Niro teasingly bemoaned being cast in the sequel and not the original and Harrison Ford fought back tears reflecting on his role in the 1974 film, "The Conversation."

At the center of it all was Francis Ford Coppola, who on Saturday received the AFI Life Achievement Award at a ceremony at Dolby Theatre that brought together legendary stars from a seemingly bygone era of cinema,

A founding AFI trustee, Coppola's recognition from the organization was a kind of full circle moment for the "Apocalypse Now" director.

"When I was a kid there was the Oscars and that was it. Now they're going to have an award show for the best award show," the 86-year-old said on the red carpet ahead of the show. "But this is a little different because it's a personal recognition of the people that you've known all your life and your colleagues over many years, so it's like a homecoming in a way."

"You, sir, are peerless. You have taken what came before and redefined the canon of American film," Spielberg said.

Coppola sat between Spielberg and George Lucas, as actors and fellow filmmakers like Spike Lee, Dustin Hoffman, Al Pacino and Morgan Freeman took turns gushing over the Oscar winner.

"Dreamer of dreams on a dime, teller of tales that cost and lost millions. But tonight, (expletive) the bankers and the bank," Freeman said to laughs and cheers.

Lucas, Coppola's longtime friend and colleague, presented him with the award. The pair have known each other for decades and cofounded their own production company, American Zoetrope, in 1969.

"You rounded up a bunch of young film students, gathered us together. We moved to San Francisco, hoping... Read More