G'day Myles, another Aussie here.
Insulation-wise, you'll find you will need some in the cooler months. I have used a bodgied up poncho liner underquilt in the depths of winter down here in SE NSW and been toasty warm with a 5 deg rated sleeping bag.
Most of my hammocking has been in Far North Queensland so no bedding or UQ required at all in most cases.
Guys, with all the new Antipodean brothers and sisters flocking to Hammock Forums, I'm thinking that we'll have to have an official HF East Coast Aussie Hang at some stage. What say you?