I "unofficially" took part in the ABC local radio's 40 Hour Drought on Wed & Thursday this week - http://www.abc.net.au/water/40hourdrought/. (Unofficially because I couldn't sign on to the website!) The challange was to only use 40L of water per person for a 40 hour period (starting from 7am Wed).
We made it, but it was tough! I "showered in a bucket", used greywater to flush the toilets when they needed it, let it "mellow" when they didn't need flushing, I cleaned my teeth with a couple of inches of water in the bottom of a cup, and was conscious of the amount of water used in other applications.
By measuring the water I was using, it really made me conscious about the water I normally waste. It would obviously be harder long term to forgo showers, and I didn't do any clothes washing over that 40 hour period. It really made me think about each bit of water I was using which I guess is the aim, and I identified a few more ways to save and re-use water.
By next goal is to set up grey water diversion for the washing machine.