It's been submitted before but its the cheapest its been in a while. Especially with the current way the Aussie dollar is going.
$39.98 is with the Amazon doing the conversion. I know some of you will get it cheaper with the 28 degrees Mastercard.
Nicked the description below from Gav (cudo's to you):
The blu-ray disks are region-compatible with Australia.
Not much needs to be said anymore about the trilogy itself. This is the collection with extended cuts of each film on BluRay (split over 2 discs), and extras on 9 DVDs. You'll need to ensure your DVD player is OK with region 2 DVDs.
Edit: Price came down after I bought it for $39.98 to $39.54 for others.
Very worth it. IIRC the bluray versions have the ability to watch the theatrical version if that's your thing.