In Queensland cyclists are subject to the same road rules as every other road user, including as to warning devices (bells) and appropriate lighting and brakes. People are regularly fined and from time to time the police set up camp on cycle paths and book people there too. A notable recent example was a big crackdown on Ride to Work Day.
As for the pointless argument about cyclists not paying rego, pretty much everyone on a bike has a car that they have left in the garage, so they've paid their share. Rego fees don't go to pay for roads anyway - they go straight to each State's consolidated fund and are then doled out by way of appropriations for general expenditure along with most other taxes and revenue.
It's also amusing how often people say that cyclists "think they own the road". Well, public roads are owned by the State and regulated by law. So motorists certainly don't own the road either and, with very few exceptions, cyclists have just as much right to use public roads as motorists.

