From the Moorabbin Airport website, some overhead shots of the airport over the years. 1955, 1960, 1962, 1967, 1968, 1971, 1990 and 1996.
Look at the current Google Earth image to see the development that has taken place around the airport.
Is Runway 22 of any use anymore?
I have never seen 22 used as anything but a quick way to vacate another runway. The reason I was told was because of the factories that have popped up on the eastern side of the field.