And now the ARU are doing everything they can to ensure the Wallabies are the world's best when Britain and Ireland's elite arrive Down Under in 2013.
Australia's governing body have announced a massive bonus incentive for Robbie Deans' men as they look to become the first side to win a hat-trick of World Cup crowns in the tournament's 24-year history.
Each Wallaby squad member will receive a bonus of Aus $110,000 (£73,000) if they win the competition in New Zealand.
As well as agreeing the substantial payment for winning the game's greatest prize, the Wallabies will be guaranteed Aus $25,000 (£16,600) just for making what would be a fourth World Cup Final.
With the huge bonuses now in place, the Australians have agreed to a cut in their standard match fee from Aus $14,000 (£9,300) to Aus $10,000 (£6,650) for World Cup pool games and $11,000 (£7,320) for knockout matches.
"We believe this agreement gives the players an opportunity to be well and deservedly rewarded if they achieve the ultimate and return from New Zealand as Rugby World Cup champions," said ARU managing director John O'Neill.
Australia currently boast the best World Cup record of all the competing nations having enjoyed two tournament wins, a third finals appearances and a semi-final showing since 1987.
The Wallabies first lifted the William Webb Ellis trophy in 1991, having been knocked out in the last four in the opening World Cup four years earlier.
They fell to a late Rob Andrew goal at the quart-final stages in South Africa in 1995 as England gained revenge for the '91 final but they were back to winning ways with a handsome finals win over France in 1999.
The last two campaigns ended in disappointment, though, as England ended their World Cup dreams on each occasion, with Sir Clive Woodward's troops winning the 2003 final and Brian Ashton's men securing a shock quarter-final triumph last time out.