Firstly I haven't ridden the 200km version of the Audux Alpine Challenge so I will be doing a comparsion with Fitz Epic which I have ridden the last 2 years.
Fitz Epic

The Fitz Epic is an Audux ride here in Canberra around the base of the Brindabella mountain range taking in a number of major climbs. These are Fitz's Hill, Apollo Rd, and Corrin Rd. These climbs range in length from a mere 4km for Fitz's Hill to 12km for Corrin Rd.
The rest of the course os characterised by open rolling roads with shorter steeper climbs in the region of 300-600m.
The temperature at the time of year that is run is normally in the mid to high 20's and this normally accompanied with wind later in the day.
The check points are not of the quality of the AAC, but this due the smaller nature of the event and also that they are situated in the middle of no-where with no buildings, electricity, running water.
ACC250
My report from the ride is located here so I won't reiterate too much of it.
The AAC250 is an Audux ride starting from Bright and traversing through the Victorian mountain range taking in a number of major climbs. These are Mt Hotham, Falls Creek, and Towanga Gap. These climbs range in length from a meer 7km for Towanga Gap to close to 30km for Mt Hotham.
The rest of the course os characterised by a mixture of open roads with some shorter climbs in the region of 1-2km.
There are also three significant descents the First from Omeo, the second from Falls Creek and the final descent from Towanga Gap to the finish.
The temperature was in the high 20's little to no wind to speak of
The check points were some of the best I have seen with good facilities and plenty of food and water.
Multi-File Analysis
When version 3.0 of WKo was released I briefly mentioned the multi-file analysis feature of the software. What this allows is a comparsion between multiple rides on the same or similar courses (Yes, JD this would be perfect for your 100's of testing laps around Majura!).
The results once the files are combined is firstly a graphical plot with key metrics listed underneath for easy reference. The second result is a combined quadrant analysis plot of the files.

Graphical Plot of Fitz's v AAC250

Quadrant Analysis of Fitz's v AAC250
Conclusions
First up are the basic numbers,
AAC250
time: 8:42hr
work; 6048kJ
TSS 560
IF 0.81
VI 1.29
Normalised Power: 249w
Average Power: 193w
Average Speed: 27.9kph
Fitz Epic
time: 7:34hr
work; 5624kJ
TSS 543
IF 0.851
VI 1.29
Normalised Power: 267w
Average Power: 206w
Average Speed: 27.6kph
So we can see straight away that I had both a higher average and normalised power for Fitz than the AAC250. The VI of 1.29 indicates that there was a reasonable amount of coasting for both rides despite Fitz's having significantly less downhill.
On examination of quadrant analysis the % time spent in the 4 quadrants is roughly the same (within 3-5%). What is interesting is when the outliers are examined, the majority for quadrant II (high force/ low cadence) are from the Fitz's ride, and the for quadrant I (high force/ high cadence) from the AAC250 ride.
This shows that the climbing for Fitz's entailed a higher amount of low cadence/ high force climbing than the AAC250.
I would suggest that this is a result of the number of rolling hills and Fitz's Hill it's self.
In summary from this data I would conclude that Fitz's Epic is a "harder" ride to complete physically than the AAC250