I think this is a pretty decent post from Richard Tognetti the artistic leader of the Australian Chamber Orchestra. It covers the whole arts side of the 20:20 summit.
I guess one aspect not covered is that currently the focus within the arts sector in Oz is still all about the performing arts. Those on the other cultural heritage side (museums, libraries, galleries and archives) are still very much the poor cousins. There are well-funded pockets, but generally we fade into the background, especially when compared to sport!