Australia is a big, long movie that will surely become a classic, but I would think firstly it will achieve this status overseas.
It is definitely worth seeing, only small criticism is that it is a little wooden. There were several audible swoons from the audience at the hunky Hugh Jackman. Kidman was credible too. A movie on a huge scale, I really hope they make their money back. Very positive depiction of aboriginal characters. A grand, romantic, action movie with some free history lessons thrown in.