Yes the flight training is as good as you'll get in Europe.
Depending on where you want to live will depend on what school you go for.
I can recommend a couple of schools in the Sydney area, there are a few good schools in Perth, and there's a very good one in Innisfail, Qld. I am sure others will recommend schools in other cities.
Which school suits depends on what sort of person you are. If you want the big academy schools then look at BAe's one in Adelaide or the one the RAAF uses in Tamworth.
Aerospace Aviation and Whitworth's are two that I would look at in Sydney (Bankstown). If you want a great little school in the Sydney area but not at a busy aerodrome then go to Liverpool Flying School at Hoxton Park, Sydney.
Perth, speak to Minovation. (The CFI is a PPRuNer and a Brit).
**There are more pilots than jobs**
The job scene. Do not expect to go to the RHS of a Dash 8 or 737 in Oz. It won't happen. Unless you do a cadet scheme you won't go near turbines for ages. (Note, the cadet schemes in Oz mean YOU pay)
Usual path.
Do the CPL and usually an IR (not striclty necessary) and get the ATPL subjects done.
Either get an instructor rating and hope you can get enough students to survive and earn money or pack up and head north or west to get a scenic/charter job in a C206 or the like. You'll be competing with at least 50 other guys for that job too.
Do a season. Head "home" and do the IR and claim that on tax.
Do another season and get some twin time/IR flying in.
Shift to a bigger town or even a city and repeat job seeking hassles.
Your aim is a full time twin position.
Once you have at least 1000 hours twin or so then you will start to look good to a turbine operator. (note, if the market hiccups or
VB/QF aren't hiring, then you can get stuck)
With luck it all works out and somewhere along the line you get a job with Qantas, Virgin Blue or NJS flying jets. (Note **many good pilots just never get that lucky**Many stay in the regionals because of the better lifestyle)
With the instructing route, you gain your Grade 2 and then your Grade 1 instructor rating and teach twin IR students and the like. Hopefully then get a twin charter job or go to a turbine job.
The hardest part in the whole thing is getting the visa.
The next hardest part is getting a job.
If you want to convert it back to a JAR licence, be prepared to go through a lot of money... (hopefully by the time you need to worry about it, it will be easier)