Currently fly Lightwing. New aircraft is a Super Petrel amphibian thus water route won't hold as many concerns IF new laws happen regarding distance from land. Regardless, easier to walk from emergency landing than swim!
As for 5000ft in RAA...PIC has option to go above now. Whole 5000ft thing set to go UNLESS that to is changed as well by the power to be. As an aside, try flying on the New England area of NSW under 5000, and above 500!