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Recruitment agencies – your experince about them (Melbourne)

I’ve recently moved to Melbourne from NZ and have spent the last month and the half looking for a job. I religiously check Seek every morning and quickly came to realize that 90% of ‘roles’ are advertised by recruitment agencies. I’ve never had to deal with so many recruitment consultants in my career life, this time being the exception. So many companies out there, I wonder how they stay in business in this economy?
My experience of recruitment agencies is that they are a waste of time. You see a perfect role on Seek and apply for it. The advert is designed to promote the perfect job with excessively high salaries. You get a call and the recruitment consultant wants to meet you. You meet with the consultant, who will then reduce your salary expectations and gains your permission to pass your resume to various organisation on their database. During the interview, they don’t disclose the client’s name or the role you applied for… was there a client in the first place?
Now I wonder how many of the roles I have applied for in the past 7 weeks are actually genuine??
Don't get me wrong... there are some good reputable agents out there. They fall into the elite 10%.