Do not kid yourself. Name one US player that could start ahead of any player on the azzurri. Didn't think you could.
The US team is composed of second division talent, with the possible exception of Reyna, Keller, and O'Brien. We are week in the back, too small up front, and our midfield is fair to middling.
See... that's why it would be an upset... ;)
I agree with you 100%--it is a point I made to another person on this thread before I read your post. On a related note, I was really very impressed with Luca Toni--I had never seen him play before (Fiorentina never shows up on ESPN!!), and he's a marvel: tall, agile, accurate with shots on goal. If Italy goes to the final, he could end up the superstar of the whole tournament.