I think the posts talking about how Russia usually fares poorly too and the benefits of the Austro-naught are the key here.
When I play gunboat as Russia I try to work with Austria. I leave Galicia open. Often Austria moves in, which is a shame, but sometimes I leave Warsaw open in hopes that Austria sees the value in having at least one neighbor not trying to kill him.
If Russia can acquire Rumania, then he and Austria can work on Bulgaria, which can work out fairly well.
That said, the Russia's that do do well do well because they have gobbled up Rumania, Budapest and Vienna. So it's difficult to count on Russian help.
As Austria I will normally open the Balkan gambit. As others have said, if Italy does not attack, you are golden. If Italy does, I usually devote all my resources to trying to slow him down so he dies at the hands of Turkey.
BTW this is all gunboat strategy. In Diplomacy with diplomacy things can work out much better for Austria. Italy is a tough one to get on your side, but if you do, that is very nice. Russia is a little easier to sway. As in gunboat, he usually has enough other problems without fighting Austria too. And if neither of those seem possible, Turkey should always welcome an alliance with Austria as he will be in such a dominant position over you if you make it to the midgame (that's why it's third choice).