I'd like to believe that we have a new government because of this (slightly outdated, it's from a couple of years ago)...
...but to be honest, I think people just went "Ooh, shiny".
I'm also less than stoked by the landslide majority in the House of Reps, but the really interesting place is the Senate, where the conservative parties (Liberals, Nationals, Family First) have 38 seats, the "left" parties (ALP, Greens) have 37, and independent Senator Nick Xenophon, who split his preferences between a conservative ticket and a leftish ticket and who has tended to campaign on issues that should attract bipartisan support, such as gambling. He's in for an exciting 6 years.
There are two things that should give Labor supporters pause: firstly, the real possibility of an imminent economic downturn, and secondly, what will happen now that the ALP holds *ALL* Australian governments. In both instances, there is likely to be what the economists call a "correction". I know I wouldn't bleed very hard if Labor went down in Victoria - can you tell the difference between Brumby and The Other Guy? Victoria's not due for another state election until 2010, having passed a US-style law to hold elections on the last Saturday of November every four years, but it will be interesting to see what will happen to other states and territories.
This reserve won't stop me from shouting myself a tall glass of something with bubbles in it tomorrow afternoon, though.