How do you think an Italian based Super League side would fare? If they were given 3 years to prepare after 2015, with significant grass roots development after the world cup, I think they could do well.
There are a number of Australian players with Italian heritage to help build the squad, Gower and Minichello could be tempted into coaching roles and with financial backing they could attract a few stars to the team.
Rugby Union has taken off over there and if the team were based in a big city like Milan or Rome, there could be a big fan base. It could also attract a new Italian tv deal for Super League, broaden exposure into another country and help spread the game.
If they were given time and support, with league set up throughout the country at amateur level and the game taken into schools then eventually they would start bringing Italian players through. Also there is a solid foundation to work off already in place, with the national team and a small domestic league.