^ This.
I'm as disappointed as everyone else on this forum, and loved grabbing a ride whenever we took the kids there, but I was always the only one in our group to ride as my boys were a bit short and even once my eldest was tall enough the idea of riding it alone (unlike LPS they only allowed 1 person per car) was a bit intimidating for him. I think the replacement will be well received by families with younger thrill seekers and despite what others have said regarding the GP not being concerned with the capacity of rides, it will make a noticeable difference in this case, and in this current climate of people being a little wary of older rides (don't forget Aussie World have had their own 'incident' in the last year or so) I think most people will just see it as a modernised version and will see it as unique. It will be the only spinning coaster in an Australian theme park (if I'm not mistaken), after all.
I'm personally excited about Aussie World's plans. So far we only know 3 of the 7 rides coming in the next 12 months (that's 2 'replacement rides' and 5 new additions, with one obviously being @Gazza's mini drop tower find) so I'm sure they have a couple of surprises up their sleeves.