Back to your original question . . . I live in the Inner West (about half an hour to forty-five minutes by bus to USyd). I did Commerce at UNSW and it took me an hour and ten minutes to get to uni. I was used to the travelling because I went to school near UNSW, so I guess I didn't miond it too much.
I can say this from having done my Commerce degree at UNSW, I was really impressed with the quality of the lecturers, the students, the facilties and the university environment. I picked UNSW because my brother studied his Commerce degree there and really enjoyed it.
There are lots of Asians at UNSW, however, I am studying in the US at the moment and a vast majority of the students in all my classes are also Asian. It isn't something to be concerned about, I find that Asians are typically attracted to courses that have a strong academic focus, and that's not neccesarily a bad thing at all.
In terms of UNSW vs. USyd for Commerce, I haven't done a Commerce degree at USyd, so I wouldn't be able to compare. I think the opportunities in terms of graduate employment with a Commerce degree at UNSW is second to none, and I found that students in my cohort got plenty of job offers.