What I like about The Australian Pink Floyd Show is that their name starts with The Australian, so right away you can't be confused with the real thing. Dire Straits Legacy, however, sounds like it's Dire Straits, and false advertising only amplifies this. In my mind, a tribute act can't be named literally just like the artist it pays tribute to, plus maybe a word or two. The Fab Four is probably the best The Beatles tribute band in the world, but it's certainly not The Beatles Legacy.
I'd love to love the band, don't get me wrong, and playing good music is fine, I just don't get the marketing and naming strategy, that's all.