Just done a bit of follow-up up research, maybe a bit scientific, so if you don't care about genetics or taxonomy, stop here...
There isn't much published on
A. laxifolia, but what I did found was this
paper in the Australian Journal of Botany 2000
48 (6). pp. 753-758 (you'll need institutional access if you don't want to pay). Some guys compared the DNA of King Billy, pencil pine and laxifolia to see how genetically related they are. They used a total of 45 trees from the Botanical gardens and Mount fields and compared 29 different DNA markers (sites on the genome) to show how related they are. It appears that there is not a 'spread from one extreme to the other but that there is 3 distinct groups and that the laxifolia sit right in between the other two. Therefore it seems that we do indeed have three distinct trees, rather than a spectrum. However, keep in mind that all the samples were collected from pretty much the same area. Interestingly they didn't know in the paper either whether or not
A. laxifolia could indeed breed with any of the other two trees or itself - so really the most interesting factor of the whole story remains untested. Generally it seems that very little is known about this *&%$#! tree

Time someone does some breeding experiments!
Just my observations makes me belief that there is a spectrum at least between laxifolia and king billy as you can get all sorts of variants in the leaves. So maybe laxifolia can breed with king billy but not with pencil... Who knows... I also can't help but notice that the specific laxifolia on this photos is much bigger and bulkier than all the king billies around it, so maybe it has something funky going on on a chromosomal level (as do many hybrid crops), which makes it grow fatter than a normal tree - but thats all just speculation. Someone please devote their life to plant genetics and look into this issue...