Actually, the Aussie Pursuits are a good stepping stone to proper bunch racing as the group riding is much easier to cope with: the groups are smaller and the pace is more even (less attacking, less messing around) as the "breaks" have been artificially set up from the start.
The pedant in me must point out though that they're not true handicaps as there is no calculation to bring it all together AT the line. All things being equal (ie everyone works) then it'll come together much sooner. But what it does mean is that for a short race (typically not much more than an hour) the racing is from the gun and more people get a chance to see the front.
Very good training though as it is usually very hard all the way as you're surrounded by riders of a similar standard.
Gill and I did it. I was reasonably satisfied with 95 mins in the Vets and Gill came 12th in the ladies but was quite chuffed at being only 8 mins off the winner against some much /younger fitter opposition. Great event though. Let's have some more next year.