Melbourne is a great city man. I guess the inner North is pretty hyped, plenty of nightlife/pubs/shit to do - it can get expensive around Brunswick St/Smith St but places like Brunswick are taking off and rooms can be found for around 150ish/week. Sharehousing can be a a bitch to navigate through though.
Corner Hotel, Northcote Social, Hi-fi and the Espy generally get bigger bands, especially over summer, but theres smaller band venues that do live music every night for free or minimal entry regardless of what you're into. International bands can be pretty expensive (a common theme here) as Australia is so far away and only has 3/4 major cities to play.
Lincoln Plaza, Museum and the City Library for meet-up spots, particularly Lincoln. There's a bunch of skateparks around, easily accessible by train/tram. I've been loving St. Kilda, it's new, plenty of flow and is right on the beach so it's got a sick vibe.
But yeah, start earning Oz dollars and you'll be sweet. I'll be around over summer, and generally always down for a cold one.