As Duck says, many people here are comfortable with P&P charges from overseas, though the steep increases in the US, UK and European parcel charges has slowed down my buying. A major reason is that often it is still cheaper and faster to order from an overseas vendor/manufacturer, increased P&P costs notwithstanding, than it is to buy locally.
Check out the prices charged by retailers here (including their P&P charges) and compare them to the original vendors' prices in the UK (remember to include P&P to Oz). You'll see what I mean. It's still 20% cheaper (and you'll get the goods in a couple of weeks rather than months) to buy from one company in the UK and have the figures shipped airmail to Oz than it is to buy from their Australian distributor (and wait until he bothers to send to the UK for the order to be slow-boat shipped, if he doesn't have the stuff you want in stock).
It's not universal, we have some really good companies here- Nic at Eureka being one- who don't put a "Idiot Aussie Gamer" markup on their goods. Others, however, do. One company head used to boast of it.
Choosing the wrong distributor will see you lose business from Australia. Beware "Exclusive Distributor" deals, as you could get locked up by some %^ who will do SFA to promote/sell your stuff. Or worse, someone who will disparage your gear as it competes with another range he exclusively distributes.
Research, mate. Research!
Dal.