I've heard that the USyd law cutoff has for the last few years been set artificially high - in order to maintain it's appearance as the most demanded, prestigious, hard to get into Law course in NSW....I'm not entirely sure if that's possible, however, but it certainly would make sense. It does seem to be an abnormally high cutoff.
In terms of UNSW law, it dropped from 99.3 last year [am quoting this from memory and so I might be slightly off] to 99.15. HOWEVER - in light of this, I was/am expecting it to go back up, given that there may now be an increased demand for the course given the lower UAI. Alternatively, it could continue to go down, or maybe it'll just stay the same. Who knows?