hi Ben
with an average of 5 per hour and at a height of 45 degrees (possibly lower in Sydney) I wouldnt be bothered. thou the northern taurids follow behind it slightly lower again. the orionids with 25 per hour is what I'd stay up for but that'd be around 2:30.
there's 3 streams relatively close so it may be worthwhile but their altitude kinda is a bit low
matt