Sounddude: Hi Ragnor
Its something we are looking at. Currently Steam Content comes from Limelight, who we peer with in Sydney so we get very good performance.
I think Limelight's CDN is mostly used for parts of the store and steam client. The game downloads and updates always seem to come from ISP hosted content mirrors in AU or valve's content mirrors in the US.
Pretty much all the big ISP's (internode, telstraclear, iinet etc) in AU are hosting content mirrors and not restricting them to their clients only which is pretty cool.
I remember last year when an Optus routing fault knocked out access to Limelight for Telecom, Slingshot and Orcon for 3-4 days!