These things are hurdles, but there are hurdles everywhere you go. You trade lack of VCs here for more competition for VCs there. You trade lack of startup community here with higher dev payrates there. It's all trade offs.
Things like timezone, distance etc are only an issue if you're selling in the US only. Smart Aussie companies sell into the Europe and Asia as well.
The Aussie dollar is shit at the moment, so I don't agree with that. It's a great time to be selling in USD.