Yeah - I was probably exaggerating on the times a bit but where you are working is obviously going to be a big factor. It takes me 20mins dooor to door to get to work from Enmore to Darling Harbour. I can walk home in 45mins. I can be bouldering at the Balkans in 40 mins and at Sissy in 30 mins (and that is during rush-hour traffic). St Peters Gym is 10mins walk down the road. With a bit of saving I managed to buy a house with a good sized yard 2 years ago with a modest mortgage in a nice area.
I'm not gloating - Just trying to show that it really isn't all doom and gloom in the City and its certainly a good place for the climber to reside. And Sydney transport is great - I lived in London for 10 years and discovered just how bad public transport could actually be!