I strongly disagree with b's assessment of the Lepanto. I have been very successful with Italy playing the Lepanto (and not Key version either):
http://webdiplomacy.net/board.php?gameID=13087#gamePanel
That's my Master's win with Italy going into the Lepanto.

In order to be successful with the Lepanto, you have to have a friendly Austria (which isn't terribly hard to get) and focus on Turkey. In addition, the Lepanto does *not* have to convoy the army to Syria. Italy can out-muscle Turkey in the southern sea zones with Austrian help. In addition, your first gains can come at Greece or Bulgaria and after Turkey loses its first center, then it's downhill from there. Your goal is to get Italy and Austria to take on Russia and Turkey. Since you are 100% focused on Turkey and Austria is split 50/50 or even 60/40 with some measure of focus at Turkey, then you're golden. If you ensure Austria keeps busy while you're picking apart Turkey, your job is simple.

In addition, as long as you keep good communication with Russia while you're taking down Turkey, you have an ally to fight against Austria if you want the stab. If not, then you simply talk your Austrian ally to focus east against big Purple while you either go west or take the stab for convenience.

Those that continually attack Austria at the outset as Italy will eventually find a game in which they are eliminated by a Juggernaut or powerful Turkey. Plain and simple.

Impressive. Italian question: Besides the Lepanto, Alpine Chicken(or any other French attack involving moves to Tus and/or Pied) and the Tyrolian attack, what else can Italy do?

Here is the one game that I have won as Italy with a *Key Lepanto (so perhaps a little off topic)
gameID=13809
I didn't stab Austria either. It is a fun opening, but I suspect it only works if Russia and Turkey are unfamiliar with it. Anyone made this work against experienced players (R and T in this game were taken totally by surprise)?

I love how everyone always acts like austria stabbing after a key is unheard of.

gameID=44823

Your game was a good game Tru Ninja. I think It helps if England and Germany both attack France. I think a Lepanto is hard to pull odd if France has a free hand to attack Italy.

Typo... Lepanto is hard to *pull-off

@ Tru Ninja: That was a very well-played game.

I do think however, that it is not the perfect example to show when arguing how strong the lepanto is.
- You did outguess Turkey in Eas.
- Austria screwed up big time. With a Russian-Turkish conflict going on, he never got past four centers, and fell to a juggernaught. His F Tri never made a single move.
-All the diplomatic relations favored you. Weak England/Asutria Turkey, storng Russia/Germany.

It's my opinion that Italian success depends much more on diplomacy (which you did well) than forceful openings. Therefore, I advocate Ven-Tyr/Ven-Pie/Ven-Tri, as it gives your diplomatic arguments much more weight.

I find Onar's scenario more common: Italy Lepantos his way to Turkey, Austria gets the entire Balkan. By the time you get to Smyrna, he'll have gained Bul, Rum, and Gre.

blue water lepanto (an austrian opening) and rocky lepanto.

In the long run, all openings are based on two things:

a) the information you have going into the first season (ie; player info, game chatter, prior experience, etc)

b) diplomacy

If you hear that things are going to be better to open against Austria, then you're better off doing it
If you hear that things are going to be better opening against Turkey, then do that instead. If Austria is going to face R and T, then you already have strong points to bring to the table in favor of gaining Greece and other locations.