Hi CTS67, I would be interested to know what you find out about sailing around Ballarat. I am currently in Sydney about 20 minutes away from Botany Bay but will be heading south to Ballarat in 12 months or so and am interested to know if there are any options. I have found some stuff on line about Lake Burrumbeet as well, access near the Russell Reserve Caravan park, Canico Drive ( google street view is from 2008 when it looks pretty empty, once again, should be OK now I guess).
Feel free to pm me if you find anything out