Well, I'm biased because I'm doing Arts at Sydney, but I would highly recommend it. Someone from another Uni will probably come in and blast me, but I think Sydney has one of the best Arts faculties around.
I have a few friends doing performance studies and film studies and they've all said they're great subjects and seem to be really enjoying them. Sydney's got loads of resources, including the biggest collective library in the Southern hemisphere (located in various small libraries and the main library throughout campus) so you should be able to get some of the best information and teaching around.
Hope that helps.