Yeah, the catch is you have to spend your time going through all of that crap and then you still have to pay a decent registrar to move the domain from melborne IT.
It's cheaper to just register the damn domain yourself and move on. Why waste your time...
Ok, I know this both from personal experience, from talking to people that have worked there, and from pissing on their doorstep in Kings.st (one of the first thing I did when I got back to Melbourne last year, in fact)... MelbourneIT suck.