en_AU translation is coming along quite well in the Precise cycle. We have ~99.99% translated strings, only a few hundred or so untranslated, due to new strings in updated packages.
Although they may be a few untranslated strings left due to package updates, the main focus of this jam is to scan and correct mistakes in already translated strings. We can use tools like grep to pick out commonly-used strings that haven't been changed properly.
The latest templates we will be working from can be downloaded from http://people.ubuntu.com/~jpickett/translations
If you have a burning ambition to translate raw strings, there's always tons of projects in Launchpad that don't fall under the Ubuntu translation policy, but would still be worth checking out (KDE apps, Quassel, ubuntu-docs, etc).
The latest strings are available at - http://people.ubuntu.com/~jpickett/translations/en_AU-20120302.tar.gz
See you there...