Hey guys,

I wouldn’t touch the first one , they have a plastics lenses and I have seen many of them with flaking reflections , make sure that you get one that has a glass lenses and is Emarked for Aust standards 

http://www.vpw.com.au/Category/Index/27040

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Hey fxdwg_will, another person from NQ!

Firstly sorry haven't purchased a bullet headlight but was researching them a bit myself as an option on my Honda Shadow a few months ago.
 
Is the plan to keep the bike for more than 3-5yrs? Are you looking at entering the bike at bike shows? If yes to either of those two questions I'd be inclined to spend the coin & buy the Cobra headlight.
However I'd also have a read of the warranty on the Cobra light first, if they only give 1yr warranty on the reflector from flaking and paint issues I'd probably reconsider...
They both have a glass lens, the cheaper unit will most likely be covered by only 1yr warranty also, I noticed its almost 1" shorter in length (if you want a longer look then Cobra wins), is an Australian seller so any issues won't cost you your first born child in freight to return for warranty....dunno if it was me I'd be giving the cheaper option a go, and you could buy two for the price of one Cobra unit over a couple of years time (so its refreshed, who knows you may change your mind and go LED in 2yrs time). Both look nice though...