Magazines:
Wild - Trip reports, mix of other info and environmental issues. Generally good but I agree with Tony about the gear reviews. Just use them as a guide as to what's available. Half the time the reviewer hasn't even seen some of the gear and gives it a hypothetical rating from the specs.
Australian Geographic Outdoor - Used to be poorly edited at times (pre Aus Geo) but has improved in recent years IMO. Bushwalking seems to occupy a shrinking proportion of the magazine though as it spreads itself a bit thin over a wide range of interests/locations. Currently often has a theme approach for each issue. That can mean diluted relevance if, for example, you're a bushwalker with little interest in skiing and the theme is telemarking.
Sites:
This one of course.
As you're from Sydney I'll list some I often refer to for local/regional info, mainly for walk planning:
http://www.wildwalks.com/ Printable detailed walk notes and topo maps. Good range of walks with ratings.
http://ozultimate.com/bushwalking/ Printable walk notes and sketch maps. Excellent site of long standing.
http://users.speedlink.com.au/~cchafer/walks/walk%20index.html Track notes for Illawarra, Shoalhaven and Southern Highlands, with a birdwatching focus. Good for walk ideas in those areas.
http://www.pnc.com.au/~wells/ Bushwalking in the Upper Blue Mountains (track notes - an old site but still quite useful).
http://www.dingogap.net.au/index.html Photos and some interesting track notes/trip reports - Blue Mountains.
http://www.environment.nsw.gov.au/NationalParks/FireClosure.aspx Track closure information. Also links to RFS site for scheduled burns etc.
http://www.bom.gov.au/weather/nsw/forecasts/map.shtml Most important - The Weather Forecasts.
http://www.bushwalking.org.au/FAQ/Roger Caffin's Bushwalking FAQ
http://www.backpackgeartest.org/Ongoing tests of a wide range of gear