Canberra's very underrated. A big advantage people forget is everything is in walking distance - even nightclubs.
LOL. Just LOL. (Actually, one of the guys in my lab works at Moose and was talking about it today, but that's another story...)
I live at a college with a lot of law students, and although I don't feel qualified to comment about what it's like to be involved in tutes and lectures, it seems as though the course is very rigorous. And, as I said before, there are a heap of international opportunities for ANU law. In addition, a lot of the people here doing law don't want to be lawyers - a lot want to go into politics, and there's probably more political opportunities here than anywhere else in Australia.
On the topic of living in Canberra, I'm going to say that it's not that bad. I'm not going to lie - I do miss Melbourne quite a bit at times, but that's more because I miss seeing my friends and my family. If you move out of home to almost anywhere in the world, you're probably going to feel that way. If you study on campus (anywhere, I presume), you'll make a lot of friends, and life will be so much more social than at home. ANU's generous with scholarships - you "only" need 99.50+ for $6,500 per year, and if you get 99.90+ you get $12,500 per year, provided that you maintain a HD average in non law subjects or 75 average in law. Part time work is easy to come by here, and it pays quite well - you could make in excess of 100 bucks per week if you studied law.