I don't know what the letter of the law is but I (and most people I've seen here in Australia based on driving patterns) interpret yielding to cars on the round

I don't know what the letter of the law is but I (and most people I've seen here in Australia based on driving patterns) interpret yielding to cars on the roundabout as giving way if I will get in the way. If they're still on the other side of the island, and we can both pass through without getting in each others' way, it's fine. Of course the de facto standard here (which many people actually think is the law) would be "give way to the right" (i.e. left for US) meaning some people will proceed without stopping even if the car to their direct left got there just before them. I think this is predictable since more risk falls on the driver who is going to get T-boned in their driver side door if they don't stop so they will be naturally cautious.