Did Romans recognise the fall of the republic?

[M. Demetrius]

Not speaking as a historian, I would posit that for the majority of people, the lower classes at least, there would be less interest in the "Central Government" than in whether they were issued their bread ration and whether there was relative peace and protection from invaders and brigands. Life was hard for them under the Republic, and life was hard for them under the Principate/Empire. Life was just hard, no matter who was in the Senate House or seated on the curule chair.