Your observations:

PETROL PRICES

NOW: About 160 cents a litre and rising...
THEN: In January 2003, the average price was about 87c a litre - still some way off from breaking the one-dollar mark.
Micheal Pierson

INTEREST RATES

NOW: 7.25% and rising. Yikes!
THEN: Official interest rates had been slowly rising, seeing 2003 close at 5.35%
Belinda Bird

BIGGEST MOVIES

NOW: The Dark Knight is et to be the biggest movie of 2008
THEN: December 2003 "The Lord of the Rings: The Return of the King" became one of the most critically acclaimed films and greatest box-office successes of all time.
Adrian Lucas

SPACE TRAVEL

NOW: Virgin Galactic launches their space tourism service on its spaceship the VSS Enterprise with main flights beginning next year. Prices start at around US$200,000
THEN: Shenzhou 5 was the first human spaceflight mission of the People's Republic of China, launched on October 15, 2003.
Max Dean

DAVID BECKHAM

NOW: Soccer megastar David Beckham now plays for Los Angeles Galaxy after a US$250 million move.
THEN: Soccer superstar David Beckham moves to Spain's Real Madrid for over US$41 million.
Jeremy Cosman

REALITY TV

NOW: The era of "reality" is (thankfully!) over...Big Brother say's it's final farewell, and people turn to tried and tested tv, with shows like Weeds, Dexter, and even a remake of 90210!
THEN: Reality TV hit hard - with millions tuning in to watch anything from singers hoping to become the next big thing (Australian Idol), people battling it out in the elements (Survivor), people trying to loose weight (The Biggest Loser), and even people doing nothing (Big Brother)!
Selina Nisanyan

AUSSIE PASSENGER AIRLINES

NOW: Qantas, Jetstar, Virgin Blue
THEN: Qantas
James Fleming

HEALTH MATTERS

NOW: The government has recently announced it will spend $62 million under its National Preventative Health Strategy to fight obesity.
THEN: In 2003 the obesity epidemic first hits the big time when Oscar nominee Morgan Spurlock releases the film "Super Size Me" in the US.
Denise Hayes

DROUGHT

NOW: Sydney's Dam Levels are at about 67% of total capacity
THEN: In May 2003, Sydney's dam levels were at 59% of total capacity
Ian Jones

BURGERNOMICS

NOW: Today a Big Mac costs about $3.95
THEN: In 2003 a Big Mac cost AU$2.90 which represents roughly a 36% rise in 5 years
George Buxton

PLASMA TV'S

NOW: 50in plasma screens for $2500
THEN: In 2003 the average price was $15000!!! How could anyone afford one?
Tony Greaves

Other observations:

MUST-HAVE GADGETS

NOW: Apple announces it had sold its one millionth iPhone 3G, just 3 days after launch
THEN: Apple introduces its third generation iPods, which held up to 7,500 songs in an enclosure lighter and thinner than 2 CD cases

MOTOR VEHICLES

NOW: Tata Motors release the Nano, the least expensive production car in the world with a 2-cylinder engine capable of 0-60 mph in 19.5 seconds. Price tag: US$2300
THEN: Ferrari launches the Enzo Ferrari, the most powerful production car in the world with a 6.0L V12 engine capable of 0-60 mph in 3.14 seconds. Price tag: US$643,330.

THE WEATHER

NOW: Rain Rain Rain!!! It has been the wettest June in Sydney since 1975.
THEN: Fire Fire Fire!!! January 2003 saw NSW and ACT ablaze with some of the worst bush fires Australia has ever seen

SOCIAL NETWORKING

NOW: Facebook, MySpace, Bebo, Twitter, Plaxo, Multiply, LinkedIn, Last.fm, imeem, Flickr, the list goes on...
THEN: Face-to-face at my local coffee space

TRAFFIC CONGESTION

NOW: Traffic congestion continues to grow along many of Sydney's busiest roads.
THEN: Some things never change!

ARIA BEST SINGLE

NOW: The current ARIA single of the year (for 2008) is "Sweet About Me" by Gabriella Cilmi.
THEN: The 2003 winner was "Born To Try" by Delta Goodrem

ONE REASON CMS

NOW: One Reason CMS continues to lead the pack in reliability, features and support, relied on by some of Australia's leading companies.
THEN: From inception, the One Reason CMS has led the pack in reliability, features and support. Some things never change!