Sydney rules at the moment:
Happy Go Hate Fuck (not very good recordings on the site but are going into the studio soon). Noisegrind with a bass player, drummer and sax player.
http://www.myspace.com/happygohatefuck
Moonmilk. Really nice ambient keyboard duo
http://www.myspace.com/moonmilk
Castings. The Wire called them a "free rock" band.
http://www.myspace.com/castings
More later..................