The meal is very small but fairly tasty. It's usually something like a choice between, say, honey soy chicken or a lamb pie (both hot), served on (cold) pasta salad. Dessert is a tub of ice cream (on the NZ to Aus flights, it's Kapiti brand which is absolutely delicious and the definite high point of the meal; in the other direction it's a less exciting but still acceptable Aussie brand. Portion sizes are very mean, so be warned. Full bar service is still available, thankfully. If you have lounge access, fill up in the lounge preflight - I find the combination of a meal in the lounge (SYD has a great spread in the evenings) plus a mini-meal on the plane works quite nicely.

Advantages of NZ's A320s over QF's 73xs is that the A320s are much, much more comfortable - both in terms of the seats themselves and the overall feeling of spaciousness. Plus they're pretty new, unlike QF's awful old 733s and 734s. NZ wins hands down on that front. Plus their lounges have much better food and drink than QF's bland offerings.

Re AVOD, yes it does I believe (haven't tried it) but apparently they don't turn it on until 30 mins into the flight and turn it off unnecessarily soon before landing so on short trans-Tasmans that would limit your options somewhat.