Time is not on the Axis’ side, and you are buying a very expensive (for Italian standards) piece of equipment that can not project aggression, take land, or pressure Russia.
You HAVE TO assume that the UK player (and a good chance, even the US) #1 priority is to make sure any sea zone it finds valuable is secured. You have to assume he is paying attention to every ship and airplane and seeing if his fleet can potentially be overtaken. He HAS to do that, it is his job, that is what the UK does. He has to know how many turns it would take for the oppents to get all the pieces together and attack him, and he has to know how much time he has to prepare and what to and not worry about it.
You also have to assume that if he values the Med sea zone most, you are dead. The fact is though, the Allies don’t place a high value on having strong ships in the Med. If it was worth it, they would be there. They can land troops in Africa while largly ignoring the Italian fleet (they will either suicide transport, or bring a fleet down there that is simply to big to be sunk). And if they wanted they could build an IC T1 in SAF if they valued Africa that highly, so that would give them 2 places on a continent to stage attacks, while you are sorely lacking meaningful units because you built an expensive, defensive fleet. On top of that they may be bombing your capital (Italy is a juicy target anyway), if they bomb well enough they may even prevent you from buying your carrier T2, that would really screw you.
On T1 and T2 Italy has bought nothing aggressive and still has the amount of ground units it started with, and even with it’s impressive fleet (which is most likely just moveing back and forth in 3 remote, out of the way sea zones) can only ship 2 guys at a time to any given front.
And for those advocating buying a Tranny, a Fig, AND a carrier that is insane. 31 IPC’s later, you have no ground units but you do have a totally sweet fleet! Not that I advocate this, but for 34 IPC’s you could build 2 bombers and a fig. This immediatly makes Italy more aggressive, coupled with German planes and bombers on France (this will give you 2 fig, 2 bomb) you are threating the allied fleet even more (maybe forcing them to waste more money on ships) you can support attacks easier with ground troops, AND you can bomb Britain. You are doing all this while still protecting your fleet. This is much more useful than 1 carrier 1 fig 1tranny (I still wouldn’t recomend it). And still if you need a carrier your buddy Japan has got one for free.
Another fun thing I may be half tempted to try (just for sh!ts) if I were America and I saw Italy sit on their cash the 1st turn, is buy 5 subs and send them your way (it may be better to wait T2, but still). You have nothing in your fleet to stop them AND your planes become useless. Are you now going to build a plane, a tranny, a carrier, AND a destroyer? If I could pull that sub stunt off and sink your navy, which i would have the cheaper navy and higher odds on (man,would that be a crowning moment of awsome) all I have to do is camp 2 subs in your sea zone and you’ll never be able to build a navy again. Either that or I could send them to screw around with the Japs a bit. This would open Africa wide up, and in the mean time I keep bombing Italy, to kick while it is down, and to remind it of what a naughty boy it has been.
The world is going to war, people are being killed by the millions, ideological lines are being drawn, brave sacrifices are being made, every side is locked in an epic struggle of life and death/ good and evil on a scale that has never been seen before: except Italy, all Italy is doing is fiddle fuXXing around with some boats.