Suzy has a thread on it here:
http://www.iceinspace.com.au/forum/s...d.php?t=107466
The simple answer is yes and it will be well-placed for southern observers at its brightest (~mag 10.7). At the point of its closest approach it will be in light dawn skies and not visible to us. However it will continue to brighten for a day or two as it recedes (increasing phase angle). At maximum brightness (02 June according to the JPL ephemeris - around 6:30pm EST, UT+10) it will be in dark evening skies in Libra. Attached is a Starry Night-generated diagram of its position from my place at 7:00pm. Below is a link to the JPL ephemeris:
http://ssd.jpl.nasa.gov/sbdb.cgi?sstr=1998%20QE2&orb=1
Good luck!
Cheers -