The last time the Australian military had conscription was during the Vietnam War, but its been volunteer-only since then. Australian conscripts have done very well in war though. IIRC most of the Australian soldiers that fought in the Battle of Long Tan were conscripts and that battle resulted in one company of Australian infantry (with artillery support) defeating a Viet Cong regiment plus elements of an NVA battalion. The Australians lost 18 dead and the Vietnamese lost at least 245 dead, probably more. A very good kill ratio IMO.
http://en.wikipedia.org/wiki/Battle_of_Long_Tan