Joe, I bet has been asked a squillion times and still got a bunch of questions - thanks!
I see the TR-METV is A$300 each plus 2 trips outside Thailand.
Non O is A$120 each (plus extension - I think 1900 baht).
I understand for the non O, I apply in Sydney, need to pay 12 months Thai insurance x 2, A$120 visa x 2, show A$2000 each in bank account then when both wife go to extend our visa's in Thailand before the 90 day expiry, we need 800,000 baht in a Thai bank account in my name for X months prior and my wife can use this for her extension too.
During our 6 months stay we can travel to Vietnam if we like and return. ie: this non O allows multi entry?
After 6 months, travel back to Australia keeping the 800,000 baht in Thai bank account.
Before the non O visa expires we travel back to Thailand and enter with the 30 day visa exemption. Then, extend the non O (1900 baht?) for another 12 months (what about insurance?).
Stay another 6 months and repeat.