After a bit of personal advice, hopefully it can be taken on board by others also.
Im a 26 year old with a degree in Comm. Design from Swinburne and about a years experience in one of Melbourne's best regarded studios. Since leaving this position I had been traveling in Europe for a number of years but have more recently returned to Aus where I have been searching for work in Design. Unfortunately no luck. Its been 6 months and I'm itching to get some.
I am thinking of either doing an internship or going back to school and brushing up on some of the tech skills that got left behind over the last few years in Europe.
Not sure on how you've chosen to display your work on your site is the best way for potential employee's to view it, but I love the work in your folio Ed.
Internships aren't easy to get, but well worth a shot. I'm sure one year back in a studio will help you a lot more than going back to do a course again. I'd keep applying for design positions in any case. Best of luck!