His six for 40 off 16.4 overs - the best figures by a New Zealand bowler in Australia apart from Sir Richard Hadlee's nine for 52 at Brisbane in 1985 - gave him a match analysis of 26.4-7-60-9 and should have earned him man of the match.
Instead the award, a public vote organised by a sponsor, went to Australian opener David Warner for his superb unbeaten 123 in his second test.
As well as Warner batted in the Australian cause, it roared of a home town decision and you sensed the Australians felt sheepish about it later.
The win was built on heart and spirit, sadly missing in Brisbane but rediscovered on the green, seam-friendly strip at Bellerive Oval.
New Zealand never gave up yesterday as the game threatened to slip away on the back of Warner and early support hands.
The pitch was playing slower and easier, but still giving seamers some help and, with the odd uneven bounce, enough to keep the bowlers' tails up.
They also learned the value of hanging on in the contest and Australia's fragile batting obliged in spectacular fashion.
Once the hapless Phil Hughes was sent packing for a fourth straight time, caught in the slips by Martin Guptill off Chris Martin in the second over, New Zealand were off and running.
The struggling Usman Khawaja hung on for 68 minutes before edging to first slip. Then came one of the test's crunch periods.
Within 15 balls and in 10 minutes, Bracewell removed Ricky Ponting, captain Michael Clarke and Mike Hussey. Australia's experienced batting core had been torn out - Ponting, in probably his last test on his home ground, lamely pushing a catch to cover; Clarke edging to slip; and Hussey lbw first ball after a third umpire overturned umpire Asad Rauf's decision.
For the umpteenth time in this test of more turns than a circus carousel, Australia scrapped back after Warner went to his century, and put on 33 with Brad Haddin.
At 192 for five, just 49 were needed. Nerves were at full jangle. But this cliffhanger had two twists left.
Four wickets fell in 11 balls to Bracewell and Tim Southee, three to slips catches.
Game over? Not quite. Step up No 11 Nathan Lyon, as Warner drove and clipped and scampered up and down the pitch. New Zealand set the field wide for Warner and pressed Lyon.
Twice in eight deliveries the offspinner got the better end of umpiring referrals, the second time with only 18 needed.
Was this to be a game ripped away at the last?
Then Bracewell summoned one final burst with his 16th over of the day and shattered Lyon's stumps.
The batsman sank to his haunches clutching his head. The New Zealanders clasped each other in delight. Job done.
Captain Ross Taylor said in the dying stages: "Hopefully my goal was to show calmness, but inside I was churning".
He didn't have that on his own.
TEST WINS V AUST
1 Lancaster Park, March 1974
Won by five wickets
2 Eden Park, March, 1982
Won by five wickets
3 Brisbane, November, 1985
Won by innings and 41 runs
4 Perth, November, 1985
Won by six wickets
5 Eden Park, March, 1986
Won by eight wickets
6 Basin Reserve, March, 1990
Won by nine wickets
7 Eden Park, March, 1993
Won by five wickets
8 Hobart, December 2011
Won by seven runs
Anatomy of Australian collapse
10.07am: Hughes caught second slip, 72-1
11.16am: Khawaja caught first slip, 122-2
12.09pm: Ponting caught at cover, 159-3
12.20pm: Clarke caught first slip, 159-4
12.33pm: Hussey lbw, 159-5
1.31pm: Haddin caught first slip, 192-6
1.34pm: Siddle caught third slip, 194-7
1.40pm: Pattinson caught second slip, 199-8
1.42pm: Starc bowled, 199-9
2.25pm: Lyon bowled, 233 all out.
