I think opening up a TLD for .au is totally pointless and would only serve to 
muddy the waters.
The exisiting TLDs give useful information about the entity who owns the 
domain. .com = commercial enterprise; .edu an educational institution etc.
Now we want to create a TLD that identifies only a geography?
The .com.au or .edu.au is a far more valuable domain because it better 
describes the owner. It's interesting to see how the .us TLD has not achieved 
anywhere near the popularity enjoyed by the entity-based TLDs. (try browsing 
microsoft.us)

To open up the .au would only create an income stream for registrars (and 
nobody on this list would want that, surely) by selling "insurance policies" to 
existing 2LD name holders.
It is hard to imagine where the demand for a TLD of .au would come from, except 
from opportunists and cyber-squatters.

Greg

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