I flagged this to reply to it earlier but got distracted and you had to go through all the trials with hubcaps, etc ...

You can get live f1 coverage in Australia (at least you used to up until last season! - I am saying this as F1 contracts can change between seasons.)
Last year you could get F1 coverage on the following channels and satellites:
- T?l? Nouvelle Cal?donie (New Caledonia TV in French) - Intel 701 KU Band
(This used to be free to air (FTA) but since mid December it became encrypted. I do believe you can subscribe via LBF) - Race only
- Global TV (Indonesian channel) - Palapa C2 C Band
I believe this is FTA - Qualifying sometimes + Race
- Star Sports (Chinese/English) - Asia Sat 3 C Band
I believe this is encrypted and you need a subscription from Asia. Some say however that the Chinese feed is FTA while the English feed is encrypted (subscription) - Practice, Qualifying and Race.
These are the channels I know that you can pickup on the eastern coast in Australia.
Once the season starts, we'll know if any of this has changed and if any new channels become available.
C band requires the big dish (above 1.8 meter in diameter) while you can get KU band with the smaller dish (70 - 90 cm in diameter)
For more info on those satellites, degrees, frequencies, etc go to http://www.lyngsat.com
Hope this helps