I actually did a little bit of research on the Italians. They were even worse off then the Japanese. They didn't have much in the way of vehicles since they were knocked out halfway through the war, so they didn't even have that late war stuff the Japanese came up with and their tactics weren't all that different then the germans so it's hard to come up with unique abilities. Overall they were pretty much an inept arm of the German army.
They made a decent medium tank so there's that. Maybe if they had a few german reinforcments to fill them out a bit, but I'd wait till after I see what's left over from obercommand. Perhaps something a bit like the Panzer Elite.
I could see the Italians/Afrika Korps as a unified faction, with the Italians serving giving cheap infantry supported by earlier German tanks. I really want to see the Panzer III and the Flammenpanzer I. The Tiger was also deployed there, so we could see some heavier stuff too.