I went to Pony tonight and saw City City City, and they blew me away. Two drummers, guitar, bass and synths; very tight, angular, and very krautrock-influenced (think Neu! and such); they played like a finely-tuned groove machine. Certainly well worth seeing. (And they're apparently playing again on Friday night at the Rob Roy.)
By comparison, Greyscale (the band, not the song) seemed like fairly ordinary Melbourne post-rock instrumental jams; pleasant enough background music, though they didn't have enough dynamism or variation to hold my interest. Maybe a few more chord changes/tempo changes would have improved things.
(No props go out to the two chainsmokers who were sitting next to me doing their best impression of Loy Yang B. Though the coolsie chat in the Che Guevara beret and policeman's jacket gets a honourable mention for post-ironic sensibility.)