2XL,
Mate 8 days at home a month is way below the norm. My current contract states that I must get a min of 8 days at home a month, but on average it is somewhere between 12 and 16.
Commuting might suit you, but if you want a new job, and living in Oz is not a priority, there are better deals around than this one at the moment. Have you thought of EK or KA? Both are giving quick commands, fly new equipment, and are expanding. These companies will also offer you a lot more face time with family if you have one.
This is obviously a very personal decision, as everyone has different needs and wants, but what you must realise is that there are other options out there, and that you need not lock yourself away for 5yrs with 8 days off at home a month if you are not really sure its your cup of tea. For me the deal would have to be something more like month on, month off before I could justify it.
I 'd be very interested to find a Qantas pilot that worked that hard, as none of the ones I know do (maybe with the exception of the 767 guys who get stuck with the domestic stuff).
I am sure that someting will work out for you, good luck.
Madcat.