Definition of "Lady" and Sandra Bullock

I just heard Sandra Bullock referred to as a "lady" on GMA. It seems lady and woman are used interchangeably these days, when they really shouldn't be. Although in this case, I think he may have really meant "lady". Sandra is a true class act. More should follow in her footsteps! A "woman" is an adult female and a "lady" is a woman who conducts herself in a refined manner. I constantly hear something like, "see that lady over there"? I sometimes ask, "how do you know she's a lady"? I get a look as if I have three heads!