Dunno about commerce, but Im doing software eng at Usyd and its pretty good. It used to be true that the facilities were a bit outdated, but they just built a brand new school of IT building which opens next semester and they putting school of IT under Elec Eng now. So EE and CS will be merged like at UNSW. Otherwise most lecturers are pretty good especially IT lecturers(EE lecturers can be dodgy, some are crap some are amazing!).
So as a degree I can definately recommend it, ive never been to UNSW so I cant really compare it.