Australia 328-4 bt World XI 273 by 55 runs
Adam Gilchrist hit the fastest ever century by an Australian to help the home side beat the World XI by 55 runs and win the one-day Super Series.
Gilchrist made his ton from just 73 balls as Australia set the opposition a target of 329 after making 328-4.
The batsman-keeper got good support from captain Ricky Ponting (66), Damien Martyn (54) and Simon Katich (47).
Chris Gayle and Kumar Sangakkara made half-centuries and Andrew Flintoff made 42 in reply but it proved not enough.
Gilchrist's sensational knock beat Allan Border's 78-ball one-day ton against Sri Lanka in 1985 and his own 78-ball knock against New Zealand in 2000.
The left-hander's innings was also the fastest ever one-day century made in Australia.
But the manner of the achievement rather than the statistic is what will live the memory of those watching at the Telstra Dome and on television.
The 33-year-old underlined why many think of him to be the best one-day batsman in the world, mesmerising everybody with his innings that included eight fours and four sixes.
Katich erased the nightmare of his recent Ashes experience by providing good support as Australia's opening pair formed a century partnership.
After Gilchrist fell to the spin of India's Virender Sehwag, Ponting and Martyn took up the run-making baton and made 103 runs before they both fell in the same over to Flintoff.
A final flurry of runs from Andrew Symonds and Michael Clarke left the World XI with a daunting task.
After Sehwag fell cheaply, that mountain suddenly began to look smaller and smaller as Gayle and Sangakkara produced their own brand of light entertainment to light up Friday night in Melbourne.
Gayle, in particular, was in cabaret mode, producing a number of spectacular and unorthodox strokes that saw the Australian bowlers clattered all around the big pitch.
The West Indies star, who came on as a super-sub for Muralitharan, scored eight fours and one six before he edged a Shane Watson delivery to Gilchrist.
His Sri Lankan partner lost his head three overs later following a messy run out, having made 61.
The fall of Sangakkara resulted in a gradual collapse of the World XI.
Gayle: Highly entertaining
Brian Lara and Jacques Kallis lost their wickets in the 24th over.
Lara played a loose shot to Symonds off the bowling of Nathan Bracken, while Kallis was run out by Ponting.
Flintoff (42) and Dravid (28) put up stern resistance, but after they fell it was all but over.
Pietersen, who used Gayle as a runner as a result of cramp, could not get into his stride and failed to re-produce the form that has made him one of the top-10 batsmen in the world.
The England star, captain Shaun Pollock and Shoaib Akhtar fell in quick succession to hand Australia a deserved win.
Australia: Adam Gilchrist, Simon Katich, Ricky Ponting (captain), Damien Martyn, Michael Clarke, Andrew Symonds, Michael Hussey, Shane Watson, Brett Lee, Nathan Bracken, Stuart Clark. Cameron White (super sub).
World XI: Virender Sehwag, Kumar Sangakkara, Jacques Kallis, Brian Lara, Kevin Pietersen, Rahul Dravid, Andrew Flintoff, Shaun Pollock (captain), Daniel Vettori, Shoaib Akhtar, Muttiah Muralitharan. Chris Gayle (super sub).
Umpires: Rudi Koertzen (RSA) Darrell Hair (AUS)
Video umpire: Aleem Dar (PAK)