Hi there,
I completed UMEP Philosophy in 2015 but have done a few uni philosophy subjects since and have friends that have done Unimelb's first year Philosophy subjects.
If you are looking for a taster in Philosophy, UMEP Philosophy will probably serve its purpose (especially if your school doesn't offer VCE Phil). You get to try out the main areas of Philosophy across the two units. If you are doing VCE Philosophy, you probably won't like it much (from my friends who have done VCE Philosophy), as the content isn't as interesting and is covered in way less depth. The lecturers are fairly average, and tutors are hit and miss (although the semester 2 subject-The Great Thinkers is getting a new coordinator this year). In terms of assessment, it's basically three essays (choice between two philosophical questions each semester) and a take-home exam each semester. Those who have done VCE Philosophy will find the essay structure and writing a philosophical essay straightforward given that the advice isn't very detailed or clear (most people in the cohort haven't, done worry). It's a difficult subject to get a H1/80+ grade in even for people who are competent writers, although is probably isn't a big deal if you are just doing it as an extension subject. Also on the subject handbook for 'The Great Thinkers', the various philosophers that may be covered is listed down, however from experience only Kant and Plato is covered (although given that there is a new subject coordinator this year, things may be different).
If you are considering a Philosophy major it's probably a good option nonetheless, given that some of the 2nd year units are very good and doing UMEP Philosophy in VCE is a good excuse to put it on the backburner without the pressure of getting a high grade.