i was in same position
zedj,
at this time last year i was in the exact position you are.. had 190 hours, twin rating, NVFR rating (all that gear).. And I wanted the cadetship real bad. After applying, and going and doing all the tests in Sydney (not an enjoyable experience), I get a letter 2 weeks later saying "Sorry not this time but you're welcome to apply again in the future."
So then it was to plan B -- move "up north." I was preparing for some hard yards... But as its turned out, there's nothing really hard at all about it. Here we've got the beach, chicks, warm weather, booze.. and now I'm creeping upto 400hrs total time. The point I'm trying to make is have a plan B, and remember nothing (even.. 'going bush') will be too hard provided you've got the right attitude and good people skills.
shnev