As I am so far the only non-Australian to post a comment, I'll assume no-one in the UK knows much about this gem of a show. In fact I happened to catch it when I was on holiday and haven't seen it anywhere in Britain, whether it be on Sky or terrestrial TV.
Anyway, to get a flavour, it is 'The Larry Sanders Show' crossed with 'Drop The Dead Donkey'. It doesn't have a laughter track but unlike 'DTDD', there is no attempt to make it topical ('DTDD' had segments that were filmed the day before to get a current, satirical comment in the script).
The real star of this show was Bruno Lawrence (such a shame to hear he died in 1995), who was simply hysterical as the Executive Producer Brian Thompson. He was the first person I saw as EP and so far (I've only seen him and Sam Murphy) the best by far.
The script is tight, although sometimes, albeit very occasionally, it does decend into pure sit-com territory. While this does not prevent the show from being funny, I feel that the show succeeds more as a satire.
I feel that it could work in Britain as the humour is very similar to British humour, although we do not have these daily tabloid current affairs programmes that seem so popular in the USA and Australia. So assuming no-one in the UK has bought it already, SOMEONE GET THE RIGHTS AND SHOW THIS DAMN FUNNY COMEDY! NOW!!!
Now I'm off to watch 'The Castle'. I'll let you know...