I use the same Austrian opening every time because it will yield 2 builds the first year guaranteed. I'm sure most of you know it:
Vie to Tri, Tri to Alb, Bud to Ser.
In fall 1901:
Tri H, Alb to Gre, Bud S Alb to Gre
If Italy is hostile and does the anti-Austria opening, Ven to Tyr, Rom to Ven, Nap to Ion or Apu, then Support your hold in Trieste with Serbia and still send the fleet to Greece.
The only other Austrian opening I consider is the Anti-Italy opening:
Bud to Tyr, Tri to Adr, Bud to Tri. But, it leaves Serbia and Greece to Turkey and Russia. Austria should always ally with Italy before the game begins.