I don't think you will have a sound quality problem, but while your stepdown transformer is converting 230V to 120V, the output will still be at Australian 50Hz frequency instead of the US 60Hz frequency.
I would check your components to see if they have a 50Hz/60Hz rating instead of just 60Hz. However anything with an AC synchronous motor will run slow, so if you have a turntable with an AC synchronous motor you will likely be out of luck.
Steve