I don't know too much about law but heres my (probably very wrong) view on things;
UoM: Like you said, too ambiguous, too uncertain, and basically it's just not worth gambling your career on it, since if you don't get into law, you're kind of left in a 'NOW WHUT' situation. However, the UoM J.D is yards ahead of Monash and Deakin in terms of reputation I think.
ANU: As long as you get the scholarship, and don't mind moving out, I don't see why not. ANU from what I've heard is the most respected (or one of the respected at least) law courses in Australia.
Monash: Travel will be an issue but perhaps you could aim to get one of those $6k a year scholarships which they apparent handed out like cake last year (approximately 98 and above ENTER from what I saw for those who applied; WHY THE HELL DIDN'T I APPLY), with which you could cover accommodation near the campus. From this, you could just go back home on weekends and such too so it wouldn't be too bad; nice balance between independence and family living.
Deakin: OK this might be the controversial part and someone's bound to prove me wrong, but I have a feeling law is one of the courses in which where you get your degree actually matters in terms of employment, and if this is true, Deakin is probably looked down upon quite much more than the other two.
My opinion on this would probably be ANU->Monash->Deakin->UoM, but like I said, law courses definitely aren't my area of knowledge at all and everything I've said here, particularly about reputations is just from some very very unreliable sources.