According to this entry on the Disney blog, it will be a table service restaurant on the dining plan. (See the comments for the author's confirmation on its being a table service. She does not, however, know whether or not it will take ADRs.)
Yes, this does mean Italy will have three table service restaurants.
Dreams Unlimited Travel is committed to providing you with the very best vacation planning experience possible. Our Vacation Planners are experts and will share their honest advice to help you have a magical vacation.