I don't know what the deal is with overall university reputation, but I can tell you that I volunteer with a girl who studies law at Deakin and from what I have heard, Deakin's law program is very, very good. I would even say that Deakin's program is better than Monash's. Monash is changing its law degree from 2015 for the better, but a lot of the elements Monash is introducing, Deakin already has.
For example,
- Monash's clinical education program only offers placements to two clinics. Deakin's clinical education program offers a whole range of places, ranging from community legal centres to banks like NAB.
- Deakin makes it compulsory to do alternative dispute resolution (a REALLY important skill to have if you're going to become a lawyer). Monash didn't (although they will from next year I believe).
- Deakin has a compulsory subject called legal problem solving, another really important skill to have. As a Monash graduate I had never even heard of a course in legal problem solving until I started my graduate diploma of legal practice.
- Deakin has a compulsory professional experience requirement
- Deakin offers a lot of really cool electives too that Monash doesn't have
Ultimately it also really depends on what you want out of your law degree. If you want to go into commercial law, then Deakin is far better - it has a very commercial focus and I would argue trains you better for life in corporate law (for example, it's compulsory to do taxation law, intellectual property law and workplace relations law at Deakin). On the other hand, if you wanted to go into government for example, then it doesn't matter what uni you go to or even what you studied.