I think this would be a great little phone to pick up and keep for emergencies or as a loan-phone for friends visiting from Aus. With an apparent RRP of $15 and 30 day standby time I can't see how you could go wrong.
(Probably the plan would be the most expensive part)
You'll need an adapter - it appears that Nokia are persisting with the mini-sim. It also appears to be taking the old style charger too, rather than USB.
I think I'm currently using a micro-SIM for the Nexus 4. The Nexus S still used a mini-SIM, so I picked up an adapter. Still annoying that there's now three competing standards that are essentially nothing but slightly different shapes.