Speaking as a resident of Melbourne, I will put my "local" hat on.
Hamilton broke the law, and deserves to suffer the consequences. However, I would be amazed if much, if anything really comes of this! Hamilton will not attend court, I would be 99% sure of it - unless he actually chooses to attend. He will probably cop a fine, and that will be about it.
We have a huge problem in Melbourne and Australia in general, of "hoon driving". Hamilton's burnout came at a time when hoon behaviour was high in the public attention, and his actions were poorly timed, very badly chosen location to do such a thing, and he is a celebrity. The police have every right to penalise him. I for one am glad to see a celebrity under this scrutiny! If you or I did a burnout where Hamilton did, you or I would have lost your drivers' license, had your car impounded, and been fined. All worthy punishments.
Melbourne is home to too many hoons and moronic youths who think the road is theirs to demonstrate how fast they can drive, show off to their mates, and inevitably wrap their cars around trees killing themselves or others. There has been a massive focus on trying to curb this sort of behaviour. Unfortuneatly for Lewis Hamilton, he did a burnout in the wrong place at the wrong time! His stupidity deserves punishment. And, perhaps by punishing Hamilton, the hoons in Melbourne may take notice of it, and have a think about what could happen to them.... I wont be holding my breath though!!