Matt,
If the wood is alder or cheap composite underneath the poly, it's probably not worth it...simply because all you are left with is the look of the finish. If its a nice swamp or figured Ash wood...then it will come out like a nice relic'd antique with the detail of the wood coming through. I'm sure you've been reading Cary's posts. I'm going to look around various Guitar Centers for a blemished or damaged Baja Ash Tele to do this to myself....The raw guitar itself will probably set me back $600.
I suggest you have someone like Dave Swisher (
This Old Guitar - Vintage Relic Reproduction Shop) make you a relic'd guitar to your spec...I can vouch for his work. I'd recommend emailing him for a quote. With the Aussie dollar strong, I'm sure you can get a great vintage looking, feeling, & sounding instrument from him for just around $1500 AUD delivered.....which when you consider the time, effort, and parts to mod your own guitar....it will end up costing the same. Have him mail it to you as a "gift" so you don't have to pay duty on it on the Aussie side. I have a good trustworthy friend headed to Sydney in late June/July...Maybe he'd be willing to bring it to you....and it could save you on the shipping.