I think beauty is in the eye of the beholder, and it's too small a market in Aus for them to be worth a lot automatically.
In .com world people pay stupid prices for totally random 3 or 4 letter domain names that are often unpronounceable. On the other hand late last year I hand reged a previously dropped domain name of joom.com.au simply because it was four letters with a double o in the middle, definitely pronounceable and what I would call "brand-able" in a web2.0 kind of way. Time will tell if this is a good investment, and I do have an idea for a site but it's a bit of a way down my development queue.
On the other hand something like dxpq.com.au or uadl.com.au or lkyb.com.au is not going to be worth any more than regfee just because it's 4 letters, unless someone REALLY wants it as an abreviation of their business name, and you would have to be very clever or lucky to succeed on that. That said if we go the way of .com it could be a genius investment to buy them up cheap, however I think we are too small and far behind as a market to make it a worthwhile investment.
Matt
Marketing Web
________________
Albury Wodonga Lawn Mowing
Promotional Bags
Acne Treatment Albury
Steel Cattle Yards