i was down there last year, not too much trouble with the cops, alot of RBTs and i wasnt in a turbo import so didnt get picked on as much, anyone KO'd on the road/footpath or drinking anywhere in victor was in deep shit, half the people there were probably undercover anyway...got bailed up and searched for alcohol countless times.
i guess if you dont clown around like alot of schoolies do then you should be fine,
dont try getting into a caravan park if your not invited either haha, doesnt end up good.