http://www.arwu.org/ARWU2010.jsp
Nabei avoid Oz uni damm terrible. No standard one. Top 100 only 3 uni inside USA having 58 university in top 100.
Oz education = 3rd class
ranking is subjective. This ranking is developed by shanghai jiao tong university, and is primarily focusing on research output and nobel prize, not in terms of teaching quality or success rate of graduates.
In this regard, no country would be able to compete with America's strength on research and innovation, and they have huge endowment and not dependent on public funding!
if you look at another ranking compiled by uk TIMES, there's 8 Aussie unis make it to the top.100, and ANU is ranked as high as 16. In this instance, the ranking is geer towards academic reputation and not research.
So all in all, my unbias opinion.
in terms of Graduate school, you are better off to America and any of the top.50 schools will give you a good headstart anywhere in the world in terms of internationl recognition. America is very strong in this area, low staff to student ratio , facilities are superb, ground breaking research, and you are competing with the best students in the world. bottomline is no other country has even come close to the research output of America, not even uk. china is trying to recreate this model in their own uni to be the next Ivy league of the east but it would take many many years, or even centuries to come close to america's acheivement.
If you can't go to America, only go for the more prestigous old school uni in aussie - ANU, sydney Uni, Melbourne Uni are top choices then the rest of the Go8 unis aka unsw, uwa, Uq, monash, adelaide uni are 2nd choices. forget abt the rest of the unis unless its a very specialised field which they are good at.
In terms of undegraduate degrees, Aussie unis are pretty solid competing with the rest of the world, just avoid some the cash-trapped unis someone mentioned in this forum. there's notable graduates from aussie unis in the world (usually graduate from the Go8 unis) doing really good stuff both in the private and public sectors. many of them got rhodes scholarship to top us /oxbridge unis for postgraduate education. aussie graduates are also in high demand in Europe/us judging by the number of graduates working in those continents. i can't say they are the best but at least its better than Spore graduates by a large mile.
lastly, there's 2 school of thoughts.
- if you are a local born or breed (from high school onwards), the quality of Aussie graduates are usually pretty solid and snapped up for oversea posting. of course they speak fluent english and are usually very confident presenting themselves to the world
- if u are a international student, then you'll be judged differently. especially those from china whose english are not their 1st language will find them struggling to be acceptable to offer professional jobs. ( this is the same in US) if you are from Spore unless you got stellar results from the top sandstone unis else again you'll judged being a 2nd-rated graduates from those admitted to the top unis in Us/uk or to some extend, the local unis.
overall, i tend to agree there's too many aussie international students with slack entrance requirements thus degrading the quality and reputation, thus, is not worth a lot nowadays with the higher exchange rate and escalated tuiton fees. however, having said that, how many international students are capable to be admitted to the top.20 unis in US? they are highly competitive so only the best can get in. then, they have no choice but to look for alternative unis in Oz, uk or canada; certainly they won't come to Singapore to further deteriote their english language skills, and be trained by lecturers whose mostly speak singlish, surrounded by mostly asian students unless their ultimate aim are to settle permanently in spore. also, nus/or ntu has never produced any nobel prize winners. at least, there are 10 nobel prize winners in aussie unis .
:p 
