The exchange rate when I was down there was almost 1:1 (much to the horror of the American kids... when we started planning it was 80 cents to the dollar, but when we got there it was 90 cents to the dollar, and kept creeping closer, so things were, without changing price, slowly but surely getting more expensive.). But getting KP's Harmonies into Aus might be a major hassle... or maybe the Aussie dollar has started going down in value, too.
ETA: I agree, though, prices do tend to be rediculous down there. My friends went a little nuts though when they found some software that was crazy cheap for college kids there, compared to here (like Adobe Photoshop). Josh got a laptop cheap, too, and a couple of them got iPod nanos and the prices weren't too bad.