To be totally truthful, Italy are going to do absolute bugger all at this world cup apart from the very real possibility of them making the quarters because Scotland decide to be useless pricks. They may provide some strong showings in their pool matches with wins over Romania and Portugal and be at the receiving end of a flogging by New Zealand but it will all come down to the game against Scotland.
It really doesn't matter if they make the quarters because they certainly will not go any further.
I suppose this is what you can expect from such a low quality pool with one standout team.
Sorry but yours is a really superficial analysis, you can't dismiss a team performance based on the fact they can't make it to the semifinal. Different teams have different objectives, this does not mean you don't have to respect the effort and energy they put into it. And like in other sports with time strong differences becomes smaller. Italy is already a hard team to beat in the sixth nations, in some years time they might become more competitive even for the big southern threes.