Pour salad dressing into a zip lock bag. Place steaks inside with bacon, seal and marinate in refrigerator for 3-4 hours.
Wrap bacon around each steak, securing with toothpick or butcher's twine.
Grill steaks over hot coals about 8 minutes per side (5 minutes for rare. Baste with mixture of steak sauce and water. For perfect steaks, turn only once.
I live in a loft -- no charcoal grill. I seared filets on my Wolfgang Puck counter top grill, lines and all. Then I placed filets in a heavy duty nonstick skillet in a 400 degree oven for 10 minutes. Voila! Perfectly cooked medium steaks. I would think 8 minutes for medium rare and 6 for rare.