What was the significance of the tittle Augustus?

Answer 1

Augustus finally settled internal fighting within the Roman ruling classes. His predecessors had failed to find a formula, Sulla retiring and having his structure broken down by generals with armies contesting for power, then Caesar getting himself assassinated and not having a mechanism to replace his life-Dictatorship with anything enduring. Octavian Augustus took on the immunity and legislative power of a Tribune of the Plebs, a pro-magistracy outside the city of Rome, and selected for himself the unsettled provinces which had all the legions. So rather than be dictator, he took the real reins of power under traditional titles. And he set up a succession so that someone was ready to step into his shoes when he died. This system lasted for a couple of centuries.