Sorry to be blunt, but those are no way A. baenschi or "Stuartgranti maleri". They are clearly intentional hybrids that have been created for the hobby. The fish vary, and are sold under different trade names. The names are basically made up and there is no rules or convention (so far) on what to call them or what is defined as a "pure" line. Hard to know if all the fry would resemble the parents. No natural peacocks look like that, males or especially females. Female "Yellow Regal" types are mostly brownish with thin vertical bars.
That said, the male is colorful and you may enjoy keeping him. As for a breeding pair, they may breed or they both may breed with other cichlids. Like all Malawi cichlids, it is not recommended to keep them as a pair alone in a tank, as the male may harass the female until she dies of stress.