It was worth a look - some UK physics degrees are accredited, some aren't.
Basically because while you are a temporary resident on a SIR visa, your rights are very restricted. You can't live-work in the places where most of the better jobs are, to begin with.
On top of that you've a variety of restrictions relating to healthcare, social benefits, citizenship, real-estate purchases, and so on.
As for getting PR after 2 years, you need the sponsorship either of an employer or the state government. We'll need to see how it works out, but it's not yet clear how all the state governments will react to SIR visa holders who move to the state but cannot find send work (ie, they are working in semi-send or unsend jobs).
If any state government starts refusing to sponsor SIR holders for permanent residence for this reason, some SIR holders in that state are going to be in a mess and it's not yet clear whether DIMIA would intervene or just insist the people concerned leave Australia.
I think the bottom line is you should only consider SIR if you know that *all* your other options are exhausted.
There are lots of problems with the 457 visa (work permit):
Not all temporary visas are as restricted as the 457 - SIR isn't as bad a visa, for example - but basically the rights of temporary residents in Australia are limited compared to those of permanent residents. And there are some important restrictions on permanent residents that don't apply to Australian citizens.
Is it not possible for her to get her registration back? I thought the UK was very keen to encourage former nurses back into the profession.
Jeremy
-- This is not intended to be legal or professional advice in any jurisdiction