You got ripped off. MSY has a 1GB 9600GT for $108. For $134 you can get a 512MB HD4850. $150 will get a 1gb GTS 250 or a 1GB HD4850 ffs.http://www.msy.com.au/Parts/PARTS.pdf
I lol'd when you referred to yourself as an economist.
Awesome that you ignored the arguments re: the creation of unsustainable industries, inflation+devaluation of the dollar etc. I'm sure you ignored a whole bunch of other shit whilst you were composing that crap but you could've atleast TRIED...
IMO:
I'd go with one of those ideas. If you go for the first option don't worry about paying off hecs, go out and enjoy student life a little, you only live it once.