I am making a delta booking MSP/SYD and the connection Delta gives me is one hour. Is that a legal connection and what if my MSP flight is running late? The Delta flight out is the last one for the night to Sydney. What do I do? I am sure that the MSP flight arrives terminal 2 around gate 40 or 50 something and that is where the Delta flight usually departs from.
The minimum connection time for Delta Domestic to International at LAX is 45 minutes, unless your flight departs from the International Terminal, in which case it's 60 minutes - so either way you're officially covered.
If your outbound flight is actually on Delta then it should depart from Terminal 2/3. If it's a codeshare on Virgin Australia then it'll depart from the International Terminal.
Whilst this is technically a "legal" connection, it's one I would never take. The issue isn't so much that it's likely you'll mis-connect, but that the impact of a mis-connect is a 24 hour wait for the next flight to Sydney. Short connections like this are OK if there is another, later flight you can catch - but the impact of missing a 60 minute connection like this is too high for my liking.
If you do happen to mis-connect, then presuming both flights were purchased together the airline will re-book you on a the next available flight. Depending on the cause of the delay, they may or may not provide a hotel for the night.
If you can't book/change to an earlier flight for the initial flight it may be worth simply getting to the airport early and asking them to move you - although US airlines don't normally do this free of charge, in a situation like this it's certainly possible that they would.