For me, and I've spent most of '12 playing in Italy, the standout young player is Capuano.
Regens/Obvious ones aside, Capuano has been one of the best defenders I've had on FM. He has the height of a CB with the assets of a LB, you can train him into a CD if you want, just a fantastic defender.
Then you have the obvious ones like Destro; Giandonato; Rugani; Verratti (barely) etc...
Just my opinion but Marco Capuano is my standout Italian youngster so far.