Australia did great in the tournament, with their only slip up (excluding Serbia) was Japan.
Japan to me is so inconsistent and even looking at my World Ranking system since June 2008, high of 9, low of 14. It doesn't move
Iran is 16 to 33. (16 is right now), so they have improved, but still way outside of the teams playing for the group wins in the World League and World Championships.
China is a 14-17 team and that will not change until their players go overseas.
South Korea is essentially the same as China, 13-17 rank.
Less than a year ago Australia was 37th and now they would be 20th after today. They have won some matches against stiff Asian competition, but in London they probably will not make the quarterfinals.