I'm resigned to the fact that the EU will always exist and always be a European-only clubhouse, even though the only difference between countries like Canada, Australia, and Britain is distance. That said, I don't really want Australia to join it anyway; merely to have the option. Australia is better off going it alone with our neighbours in Asia - New Zealand, Indonesia, the Pacific islands, Thailand, the Philippines, Japan, South Korea, etc. Ever since Britain ditched us for the EU, we've had to strike trade deals with Asia instead and it has produced phenomenal results.
I think the EU is for the best, as long as: a) the Treaty of Lisbon is largely where the enlargement of 'federal' powers ends (I'm not sure this will happen), and b) it becomes more democratic (I'm not sure this will happen).
Heck, I dunno. I don't think Europe needs the Treaty. Maybe that means I'm against it? Who cares what I think? I'm not a European!