Every time I go there, I think Macquarie Field at Speers Point is crying out to be a boutique 10-15k stadium, similar to the plans for Leichhardt Oval at the moment. Being right next door to the NNSW facilities (which are brilliant) and Jets offices would be great. Not to mention I think it would be easier to get the support for something like this from Lake Mac council than Newcastle Council for, say, an upgrade to No.2 Sports Ground. I really could picture families going to the Park / playground there before the game and making a good afternoon of it.
In re to Aust Cup final, it should not be played in Newcastle (and I am a Jets fan). The rules around member clubs getting home grounds keeps the competition interesting. It should always be a pre-season tournament for the A-League clubs and a chance for the lower level semi-professional clubs to shine on a bigger stage. Further, who knows, but I really cannot see the crowd exceeding 7k (i.e. a regular Jets crowd). I have hardly picked up much hype locally for it, it is not getting much attention in local media. At that level, and the cost to hire the stadium, it seems hardly a financial windfall to the FA to let the Jets host it.