I am just wondering is it the best strategy to Italy stay neutral. I am leaning on the neutral side, here’s why:
They could get all 4 victory conditions while staying neutral, and it is frankly easier doing so, since if they aren’t going to be attacking any major power, they don’t have to defend their home country, and they could spend more money on helping the nationalists, and they could spend more on tech, especially Wartime economy (more cash=more battleships) and improved construction (fast development of ships or cheap development). For Abyssinia, It might be best to stay defensive, if Abyssinia has lend-lease, or has succeeded on that recruitment roll, though maybe not.
They could support the other axis through lend-lease. To me, it seems usually it is the other way around with the offensive Italy, and A good British player would definitely suppress Italian plans to take areas with a few militia.