From what I think I understand under EAP you can do lane changes while remaining in AP but you have to initiate,
I am talking about the US version but I think it's applicable to Australia if allowable by the government:
EAP has "Navigation on Autopilot" that can take you from highway entrance ramp, doing all the lane changes automatically without human's input, automatically changes to all highway interchanges, then automatically exit to the highway exit ramp.
whereas FSD will just go ahead and change lanes as required (pending preference settings).
Correct. That is the same as EAP. There's no difference when you use EAP or FSD on highways.
I know we are way behind the US as far as features, but looking at the order page it says 'autosteer on city streets coming soon'
The terminology "Autosteer on city streets" is confusing because Autopilot/EAP/FSD already steers automatically to keep your car within a lane.
You don't lose "Autosteer" just because you go to "city streets".
What that terminology means is "Navigation on Autopilot in the city": The car can automatically change lanes on highways and steer into left and right interchanges automatically, but now apply that to the city: It can do that at intersections: It can automatically stop, go, turn at city's intersections.
Notice that the current FSD cannot do the "Navigation on Autopilot in the city" but FSD beta can.
FSD is not the same as FSD beta.
but mentions light/stop signs. Does that mean that FSD in Australia will stop/accelerate
No. In the US, FSD can stop on green, yellow, red light unless:
1) You press on the accelerator (or gear stalk on 3/Y)
or
2) There's a leading car in front of you leading you through the green light.
Does that mean that FSD in Australia will stop/accelerate as appropriate at lights and stop signs?
In the US, FSD beta (there needs to be the word beta) can respond to an intersection appropriately without human's input even at traffic lights or stop signs.
I'm taking a M3 on a trip from SYD to BNE, planning to try out the FSD and am interested in what I can expect. Definitely interested in any experiences in Australian conditions as well as what it does over and above EAP.
For the US, EAP and FSD are the same on highways. In city streets, EAP doesn't respond appropriately to an intersection. FSD would stop at green, yellow, and red lights unless you made the exceptions above. So at "city streets", both EAP and FSD may inappropriately respond at in intersection (green is to go and not to stop but FSD would stop unless you do an exception, red is to stop but EAP would go) so the difference is FSD can automatically stop at an intersection (even on green) while EAP would always go.
Notice, FSD is not the same as FSD beta.
FSD beta is designed to react appropriately at a city intersection without human input during red, yellow, green, stop signs, and turns...
Australia may not have all those functions now but I expect once the government approves them, that's how the names work.