200 or so left listed, probably at least the same or more "reserved" but still, it's not a lot is it.
Imagine if all the RAAus and other organisations had to VH register too - we would have run out long ago.
ICAO has allocated VH to Australia, maybe beyond that, Australia can do whatever they like. AAA, go to four letters ABCD, it's a question I have often wondered about.
If we go to four letters, we may be able to have as much fun as say UK with examples like G-WHIZ, G-FORC, G-IDDY, G-RIDE.
VH-ELLO? Nah. VH-WIND. VH-FART. VH-ACDC! VH-STFU, VH-PIPR, VH-CSNA, VH-GROB, VH-ARRV, The world is our oyster!
I see New Zealand already has ZK, ZL and ZM available. Generally, they often do not display the ZK mark.
At Tauranga one year I saw MOM, DAD, SON, NAN, POP, SIS, (not sure about CUZ and BRO) all lined up.