Thanks DDK1145. I read about a lot of people on this forum who got their stamping done in Canada/Mexico. So i just wanted to know if Australia was any different. Here is what the Melbourne Consulate's website says in FAQ. I guess this answer is a standard for all US consulates around the world.
Q: CAN I APPLY FOR A VISA IN AUSTRALIA IF I AM NOT AN AUSTRALIAN PASSPORT HOLDER OR A PERMANENT RESIDENT HERE?
A: An applicant has the right to apply at any Consulate abroad. However, it may be harder to qualify for the visa when applying outside your own country of permanent residence. If you choose to apply in Australia it is on the understanding that you may be refused, and the application fee is non-refundable if the visa is not issued. You are expected to demonstrate you have strong ties to your country that you will return to after your visit to the US, therefore applicants are advised to always apply in their own country of permanent residence if possible. The decision on the issuance of the visa will be made at the time of application.