Mega late reply and I'm not sure if your question is still relevant, but its better to be safe than sorry!
So, obviously I'm going to say USyd's Arts/Edu degree trumphs the UNSW one because
1) our Arts faculty is ranked much higher than the UNSW one
2) we have a much broader range of units to select from
3) Starting 2012, all secondary education students will be required to study the full five years, at least according to one of my professors from 2011.
Otherwise, the Arts/Edu is surprisingly rigid and structured as you get further and further into the degree. This basically means you don't have much freedom to choose which education units you want to pursue as you enter second - four year.
Another thing with the USyd degree is that all your education units are prerequisites (pre-reqs are subjects you must complete in order to complete another subject) for the following semester and do not repeat in the next semester. This means if you fail a subject (e.g. EDUF2001) in semester 1 of 2011, you cannot proceed to the subject EDUF2002 in semester 2 of 2011. Moreover, EDUF2001 will not be available for you to retake in semester 2 of 20011. You actually need to wait until semester 1 of 2012 to retake the course. In other words, you'll be a complete year behind.
Anyway, although the USyd degree sounds really hard, it's actually not and in fact, rather enjoyable (bar some stupid core subjects in first year - in fact, all of first year is super super important but you don't realise this until third or fourth year). You also get three practicums in USyd. This is where you become a student-teacher in the classroom. Obviously, they're crucial to helping you develop a teaching sense and realise your teaching style. This is why USyd always had 5 years instead of 4 years, because in the 5th year of the degree, you go on a 7 week practicum (called an "internship") where you no longer need to be supervised in the classroom. UNSW doesn't offer anything so extensive. Just make sure you nail the pacticums because if you fail, its the same as failing a subject and you'll need to repeat it!