CNET.com.au has just put an article up summarising the issues with Steam, game pricing and importing in Australia. We've covered them piecemeal in the past, from Activision, to THQ, to 2K Games, but there's nothing wrong with putting the puzzle pieces together and staring at the big picture... even if it's ugly as all hell.
The article gives Ubisoft kudos for being reasonably transparent, a sentiment I agree with. It still needs to get Assassin's Creed on the AU Steam though.
While there's not a great deal of new information in the piece, it's an excellent read if you want a straight-up explanation of the local situation. Hit it up if you feel like romanticising about how often we get screwed.