Three squadrons worth, 36 aircraft, of Vigilantes were recommended as a suitable interim type to get Australia through the danger period during the late 60s. Either the TSR2 or more likely the F-111 were seen as the long term options but would not be available in the required time frame where as the A-5 was already in production.
The F-4C Phantom was also considered but the issue was insufficient range which would have required the RAAF to acquire a IFR tanker capability.
Interestingly when the F-111 program started having issues and price increases, then Defence Minister Malcolm Frazer, renegotiated the deal but apparently came close to cancelling it and ordering F-4E Phantoms instead. It was reported at the time that for the Phantom to adequately replace the capability offered by the two squadrons worth of F-111 (24 aircraft 6 of which were to be recon roled) the RAAF would have required three squadrons with 36 F-4E, a squadron of 6-12 RF-4C (or E) and 6-12 KC-135 tankers (I can't remember if it was 6 RF-4 and 12 KC-135 or 12 RF-4 and 6 KC-135).
So basically the F-111, although expensive and suffering from delays and cost blowouts was actually the cheaper option. That however does not take into account the multi-role capability of the Phantom and the dramatic improvement it would / could have had in regional air superiority (longer range and improved BVR compared to the Mirage), or the force multiplier effect the tankers would have had for the RAAF as a whole.
Agree totally with Abe on the Super Tiger, it would have been the ideal choice for the RAAF and for Australian industry. Interestingly CAC initially proposed the Grumman Panther, the predecessor to the Tiger, for the RAAF before the Sabre was considered. Had the Panther been selected it would likely have been in service in time for Korea meaning the Meteor would not have needed to have been acquired. Once the Mig-15 came on the scene it would have been comparatively easy to switch production to the swept wing Cougar (derived from the Panther) for the mid 50s and then to the Tiger (possibly with an Avon as the un-super Tiger used a US version of the Sapphire, which was pretty much interchangeable with the Avon in UK aircraft and ADEN cannon) for the late 50s, early 60s and then finally the Super Tiger for the mid to late 60s. The un-super Tiger, due to its small size and low weight, may even have been able to operate from our carrier but I am not sure on that.
Going Grumman could have seen continuous production of then world class fighters from the late 40s through to the early 70s allowing the RAAF to always stay ahead of the curve and never be forced into interim buys, urgent updates and expensive upgrades usually only delivering marginal improvement in capability at great cost and often leaving Australia at a tactical, if not strategic disadvantage. i.e. Flying Mustangs and then Meteors against Mig-15s, relying on subsonic day fighter only Sabres when Indonesia was fielding Mig-17s, 19s, and mach 2 Mig-21s as well as Tu-16 bombers. The fact Indonesia had a more modern and capable airforce than Australia during the early 60s was an election issue at the time with the F-111 order defusing one of the biggest policy differences between the two parties. Labor had promised to replace the Canberra if elected where Liberals had continually deferred the decision since the mid 50s but announced the F-111 order during the election campaign. Ironically it didn't enter service until after Indonesia's left leaning, confrontationist government had been deposed, removing one of the key drivers for desiring a long range, state of the art strike bomber. The perfectly good enough Vigilante could have been in service several years earlier and actually been able to serve its desired role as a deterrent.