Hey there,
When buying a hostel card you'll want to consider the price of the card, size of the discounts, coverage across the country, price of the hostels before any discounts and, most importantly for me, the hostels that belong to the network and their quality.
In Australia your choices are VIP, HI/YHA or Nomads. I would choose VIP but here are my views on each:
YHA/HI
I've never been a fan of HI/YHA hostels that I've been to in Europe and around Australia. They're always really clean and secure, but I find them very sterile and boring. There are, no doubt, exceptions, but as a whole I prefer to stay in independant hostels with more character. But if cleanliness and security are your main concerns then I'd recommend buying a YHA membership because you'll be happy with the hostels and save a lot with the cards as the hostels are usualy pretty expensive to start.
VIP
VIP hostels have a list of rules to adhere to, just like YHA hostels, but they tend to vary more in their overall quality. While you can almost predict what a stay at a YHA hostel will be like, VIP might impress you in one city and let you down in the next. Unlike YHA though, there are often several VIP-affiliated hostels to choose from in any given city, so doing a bit of research will help avoid the bad places. Plus there are discounts given on other things like tours and transportation and you'll cover the cost of the card in no time.
Nomads
You could survive fine in Australia without joining this network as you might never even see a Nomads hostel anywhere on your travels. But if you want to get off the beaten path or work in out of the way places then it might be worth it because Nomads hostels tend to be in rural areas. I'd suggest not buying it in advance and instead getting it at the first Nomad's you come across that you want to (or have to due to no other options) stay at.
I don't think you asked about New Zealand but I agree that BBH is the only choice when it comes to buying a hostel card in NZ. The network is huge and an added bonus is that they're all reviewed and ratings for each are in the book.
Asia... not a clue!
Hope this helps, any questions feel free to give me a shout.
Kirsty
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http://www.travoholic.com/oz