Not much more to say than the headline - the Australian iTunes store finally has TV downloads just like the USA and UK. There isn't a whole lot of content up there right now, but I am sure it will grow. Episodes seem to be $2.99 ea - season prices vary from show to show. Some series are not complete and some just have the latest season. The ABC (Australia), ABC (USA), MTV, Nine and Disney have content on the store. Hopefully more join soon, as well as releasing a whole bunch of old content for us to relive (The Late Show for example *cough*).

Tip: If you want to buy somehting off it, head into Big W, and buy a $50 iTunes voucher for $30 (as explained in this thread), and you can end up saving a bit of cash!