At my last job I shot a lot of video and did tons of editing, animation, etc... A few months ago I purchased a Kodak Zi8 on sale at Target for $159 to just keep around the house and shoot videos of my kiddos. I looked at the Kodak and the Flip but the Kodak won in my opinion, mainly because you can shoot different resolutions (1080p, 720p, 480SD, & even 5MP still pics, but the still pics suck). Outdoor and in good lighting it does a nice job (I normally shoot at 720p). GREAT for YouTube and such. If using indoor it helps tons to have a bright room to keep the video from being grainy. Reviews I've read though say the Zi8 is one of the better at low-light for the <$200 camcorders.
If you want something more substantial and might use it to display on a large display (i.e. 50" LDC TV), you might want to look at something like the Canon HV40 (mini-DV tape storage around $800) or the Canon HFS10 (Flash based storage around $1,000) which will perform much better in low-light and give you a better image due to larger image sensors and lens (larger than the pocket HD models like the Zi8).
Finally, there are some digital cameras out right now that shoot some pretty amazing looking video. Two that I've seen are the Canon G10 and the Canon 5D SLR. I own the Canon G5 (six year old 5MP camera) and the G series have always taken good photos. The 5D is expensive but an amazing camera and camcorder (for samples, check out this
video).
Sorry to be so long winded. I do realize your in Australia and the pricing I listed is US so that might be a bit different. Bottom line is you can spend <$200 (USD) and with good lighting, get really nice looking video for YouTube. Hope this helps.
Allen