Melbourne reminded me very much of Europe. It's defenitely true that Melbourne can have all four seasons in one day! So bring different kinds of clothes.
Favourite spots:
St. Kilda, best part of Melbourne. Don't miss it. Botanical Gardens are beautiful. And the beaches are good.
What's really great:
I didn't really go out of St. Kilda when I was in Melbourne!! But that's the good part about it, everything you need is right there. It's a little city of it's own.
Accommodations:
The Ritz for backpackers, St.Kilda
Hangouts:
The Elephant and Wheelbarrow
Restaurants:
Eat at all the small take out places. Cheap and very tasty.