Depends what you're into, there is lots of stuff down here and Melbourne (like Sydney) represents the pretty much the worst of it. Apart from the money side of things I reckon living in both Melbourne and Sydney are on a par with each other...they both suck.
There is all sorts of stuff to do in Victoria except drive on the beach because that is a no no and we are saving the beaches for future generations (or for the greenies I'm not sure which). I can go pretty much any direction from my place and end up in the bush where little or no people are, it might not all be low range stuff but it will make any car dirty.
Come down Dave I'm sure someone can show you a good time...old fellas like me might struggle to keep up but Woody is a young buck he should keep up even in a D40.