I'm not sure how I feel about this.
I respect it as a crafty move to counter the drift away from our the Commonwealth over the past few decades, but I think the days of Australians holding British titles is behind us.
As a country we're mature enough to not have England define who we are. But when I think about it, I can't come up with anything else that defines Australia other than a willingness to be cannon fodder.
One day we'll find our own voice, but yesterday's decision pushes that day further into the future.