Your revision strategy sounds good. Don't forget to complete the VCAA 2011 exam in authentic exam conditions. I would also go through some of the past VCAA exams and find the questions that still relate to the current study design.
Also read the examiners report from the VCAA 2011 exam. In particular, look for the areas of improvement. Take note of these mistakes. Chances are VCAA will be testing that knowledge again this year. Don't forget about the 8 mark monster question either. For most students, they have never encountered a question like that in IT Apps before sitting the exam (due to the appalling study design).
In terms of reading over notes, just skip that and jump into the prac exams. There's a big difference between memorising and logically answering the GIVEN question, not the question that's inside your head.