Saw the same thing this morning when I logged into CBA Netbank. As already mentioned above, the best thing about this card is the free international transaction fee. I've already got a diamond card with CBA thru my mortgage so not really interested in the travel insurance, and the lounge access is also provided from my Amex platinum card.
I don't really like the $10 per month fee, adding that up equals to $120 a year. Which you can gain easily from either Citibank plus or 28 Degrees. Or even Bankwest credit card which charges a fee but also gives you the ability to earn QF points.