Gavin,
Until I know who the photographer was and an approx. date, I cannot say anything more about the camera/format/media question.
As for the photo, I really like it. It is a beautiful photo of a beautiful girl and I suspect that is exactly what Miranda Kerr was at the time of this photo, a 15 or 16 year old girl. As I know Miranda today, she is gorgeous, vivacious, curvy model that I would love to have the opportunity to shoot with one day.
As for the naysayers, let them in the dark as the quality of our Aussie girls, which are naturally some of the most gorgeous, lean, fit, and handsome women on this planet.
If anyone needs proof of this claim, visit Sydney and spend a day in Double Bay, the place that has been repeatedly proclaimed as having the most drop-dead gorgeous women per square meter in the world. But if you have 'Puritanical Tendencies' then stay away from Bondi Beach where all these beauties go when it gets hot to swim and sun-bathe topless. You may break your neck from stepping on your own tongue.
I guess Australia really is the lucky country.