I played one of those Italia guitars years back and liked it quite a bit. However ... I couldn't get past how ugly they are! (the one Jeff is holding looks better ... but they used to have these weird pearl colors)
Just my own opinion, but I'd agree the guitars are strangely pretty ugly. For such a boutique sort of instrument where everything is usually almost self-indulgently really nicely made and attractive, I'm surprised they tend to look so garish and awkward.
But it may well play and feel and sound really great, which is the important part obviously.
They're actually pretty inexpensive Korean-made guitars:
http://www.ebay.com/itm/like/311477635974?lpid=82&chn=ps&ul_noapp=true
Above is a link to one of those ugly ones I played!
They do play and sound pretty good in my opinion.