Just looked up the prices - a 360 Arcade bundle is $279US - this is before any recent price cuts (it could drop to... $199? $229?).
The *current* AU/US exchange rate is an *extremely* high 0.94c (per $US). So $279US --> $296AU.
Add 10% GST --> $339AU. And again, this is BEFORE the most recent set of price cuts.
GTA4 should really be $80AU - and Halo3 should be the same (if not less by now).
Add all these up... and you get $499AU. Which is effectively no discount, and forcing the consumer to pay "full" price for each component.
Gesta Non Verba
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