It's a widely known fact. Gamers in non-US regions pay more to game, than US residents. Games which retail for $US50 are seen on Australian shelves, for example, for $AU100.

Now that the Australian Dollar is almost approaching parity with the USD, is it reasonable to expect a shakeup of this pricing model in the near future?

When the Wii launched, (once again using the Australian Dollar), the 1AUD was worth roughly 0.7USD, so it seemed almost reasonable that the doubled price covered exchange rate differences, and other regional difficulties such as translation and shipping. If not now, perhaps at the launch of the next generation of consoles we'll see a new pricing model taking into account this favourable exchange rate?