imo, university is def. the better option though. To head straight into a job, become an apprentice or enter TAFE you are limittting yourself to a particular job which is more closed then jobs you would get with a uni degree. a university degree puts you into a particuar field, not a job. So you have a lot more options and flexibility.
Having said this, university is not for everyone and a few of my friends did leave in year 10 and they're all doing quite well. If you know you want to be a plumber of a chef, why stick around and go to uni??