The latest projections have the UARS satellite contacting the earth's atmosphere around 11 AM Sydney time - and there still remains a chance that some of the doomed spacecraft will made make landfall in Australia.
For me, this falls under the "Tornado Rule.": I want to see the damn thing! But I don't want anyone to get hurt, of course...
Here's a Twitter feed with constant updates.
Here's NASA's UARS site.
Update: Live satellite tracker:
Update 12:47 PM Sydney: Oh hell yes. Projected to enter atmosphere in this neck of the woods.