Well, mooched about Melbourne a bit, locally yesterday, and in the city centre today. Locally, it's cool and a bit arty, something like Lark Lane. The city centre, well, it's got trams, lots of coffee shops, loads of shopping arcades...it's just missing something. A big bridge, a white pointy opera house, and a bunch of ferries sailing around a beautiful harbour would improve it no end!
Maybe that's a bit harsh, we'll give Melbourne more time to grow on us, THEN we'll decide we like Sydney more!