Cook bacon in skillet until crisp; remove. In hot bacon drippings, cook onion until tender; remove.
Cut cutlets into 6 to 8 serving-size pieces; rinse and pat dry. Combine egg with water; beat lightly. Dip meat into egg mixture, then into bread crumbs. Brown on both sides in bacon drippings. In a small bowl, stir steak sauce and browning sauce into the soups. Place browned meat in a 13x9x2-inch baking dish. Top with onions, bacon, and soup mixture. Bake at 350° for 30 minutes, until meat is tender. Serves 6 to 8.