I'm serving as well and share Teabag's view up to a point. Buying off the shelf is the way to go - when we can afford it. Navy has finally learnt from Air Force and gone off the shelf for the new Combat Helicopter (MH-60R). These are exactly the same as the USN versions meaning we are not spending millions on R&D to create our own little fleet of unique helicopters - Air Force learnt this years ago with the C-17 and Super Hornet. This is also a great decision as it gives us total interoperability with our closest ally and that means a lot less pain for the guys and gals who regularly operate from USN ships.
The problem comes when we look at bigger purchases as cost becomes prohibitive. I think we should have gone for a US Destroyer e.g. Arleigh Burke for the same reasons as we went for the helicopter - I also don't think the AWD will work for us as we have created a hybrid ship rather than buy off the shelf. However, the LHD is a whole new scale - we simply could not afford to buy US Ships of the same capacity. Here's where the Spanish ships offer a reasonable alternative. They are not Mil Spec, but are built to Lloyds Register standards making them much cheaper. Yes less militarily durable but that's a trade off in risk to gain capability.
The LHD's bring the RAN a spectacular jump in capability and require the ADF to completely adjust its operating paradigm. It will not even be close to operating like Tobruk or the LPAs.
So while I think we have got some decision very wrong, I also think we have made some pretty smart choices. Which ever way you think, the next decade is going to be a very interesting time to be in the Navy!!