New York, November 4 – P. Diddy didn’t run naked down Wall Street at his birthday party as he promised the other day, but Tara Reid did. We thought it was intentional when the starlet dropped her dress strap, popped her left breast out and then posed, smiling for photographers. When a handler tiptoed over and tugged the loose strap back into place, a look of horror crossed Reid’s face, and we realized it was a mistake. Reid drew all the attention, outdoing Paris Hilton, who kept sweeping up her long gown, letting us know she wasn’t wearing undies. Expect major fireworks from Paris; she doesn’t take not being the center of attention lying down.

The theme of the bash was royalty, complete with trumpeters playing from a balcony, and rose petals strewn along the entrance to Cipriani Wall Street. A gigantic ball of red roses bore the inscription “PD” topped by a crown, so we can apparently return to addressing the host as P. Diddy, rather than as Sean Combs, as he demanded earlier this year.

More drama on the set of Life & Style. Co-host Cynthia Garret told us that a couple in Thursday's audience was ushered out of the studio because, er -how can we put this delicately - a guy's girlfriend was pleasuring him by using her hand.

Sean Lennon and Milla Jovovich arrived late, and were all couple-ish. Janet Jackson and Jermaine Dupri were even later, and we’ll skip the wardrobe malfunction jokes.