Interesting post enghave. Once the number of helicopters required had shrunk to just 11 (I can't find the source but IIRC something like 29 airframes were on option at one stage) it just didn't make sense, IMO, to invest funds in a technically risky project when so few aircraft were involved.
I have similar concerns about Wedgetail and I really hope this project succeeds because we are so far down the track with it. For a purchase of just 6 aircraft surely the RAAF would have been better going for an established design like the E-3 Sentry. No doubt there would be some features that would not be as good for the RAAF as those offered by Wedgetail but at least we would have the aircraft in service!
Re the Penguin missile it seems to me that this would complement, rather than replace Harpoon. The loss of the helo would leave a frigate without an AShM if Harpoon was not carried. Also the Seasprite (or any helo) is limited as to how many missiles it can carry on a sortie. However, for taking out fast moving targets like fast attack craft I think the helicopter launched missile is ideal. However, why not fit Penguin to the Seahawk?
Cheers