A three second delay is not playable and shouldn't be happening. 750 ping sounds rather high unless you're on the moon.
It's tough for Aussie players... probably why most of them left. The ones I play with now and then tend to have high pings but don't necessarily lag. As long as you're below 300 you should be fine.
Are you spiking at all? In other words, does your lag go up and down during a game? That could mean you have bandwidth issues, not latency issues. I live in Hawaii and have a couple of different connections I played from. One of them would be fine most of the time as long as I didn't play 4v4... but sometimes I could only play 2v2.
Thats the thing about this game... you need more upload bandwidth for every extra person in your game and sometimes you can run low and have lag spikes. I have relatively lag free games with Europeans sometimes, so you shouldn't have a problem if all the players in your game are from mainland US. Possibly you have a router or some other connection issue that you're mistaking for just being in Australia.
Give out some more info on your setup so we can maybe help yah out... but if you're hoping to get all the old Aussies back in game, sorry you're out of luck.