Despite their disappointing problems, that have reduced reliability and required continuing expensive fixes, when they work they can work very well.
Collins Sub HMAS Sheean 'sinks' USN Nuclear Sub, in 2002 exercise, and apparently two destroyers also.
http://www.smh.com.au/articles/2002/10/12/1034222635835.html
A very interesting 10 min clip shows HMAS Rankin taking part in Silent Fury, a 2005 exercise with the US Navy off Hawaii. The sub must avoid detection and make it past several 'enemy’ ships looking for her to be victorious. Despite the Americans cheating, HMAS Rankin achieves this, 'sinking' the brand new Arleigh Burke-class destroyer USS O'Kane in the process.
http://www.youtube.com/watch?v=d8Kv4rqR6RQ
Problems with new sub designs are not uncommon.
http://www.defensenews.com/article/20130605/DEFREG01/306050017/Navantia-Gets-US-Help-Fix-Overweight-Sub
http://www.theguardian.com/uk/2012/nov/15/hms-astute-submarine-slow-leaky-rusty
http://nextnavy.com/the-virginia-peel-why-are-2-billion-dollar-subs-losing-their-skin/
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- another smart move by govt ... scrap the subs
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