For a full list of some of the best Australian Game server hosts in Australia, check out Gameserved.
I have been looking at the US game providers intently in the last few months and whilst a couple have made it to our waters, it is currently only Hypernia that have managed to infiltrate our market. With incredible Features, Pricing and performance, they have given our few Aussie competitors something to think about.
I can fully recommend Hypernia in a big way, there is nothing like this in Australia:
A 10 slot, 66tick Source (steam) server comes in at around A$30 a month with free 20 slot Teamspeak or Ventrillo server along with it. In line with US pricing with slots around A$2.40 to A$3.00 a month for most games.
I grabbed a HL2DM server which you can find the setup details here: OzSource :: Resurrection
Great latency and professional service, their dedicated Server packages offer great value also.
If anyone wants to share one of their dedicated servers for a gaming community let me know by contacting me here or on Binary Gamer.
Updated 2/12/08 to reflect changes with the Aussie dollar.