Battle Station slowly growing.

You might try asking over on the World Militaria Forum and not the US Militaria Forum.  There is a section for Italian military there.

100% cast reproduction pieces. 

This flag is nice but again, it isn't a military flag. The 54x90 measurement does not conform to sizes used. The seller, to their credit, says it's a WW2 era flag (not a Navy or Army flag). While on the subject,  I also never hold to an exact measurement since wool shrinks. That said, a #9 is 42x80 and a #8 is 60x114.  Neither of these are close to the 54x90. 

Looks like it could be an older Identification, Friend or Foe (IFF)  receiver which are command-and-control systems designed to prevent friendly-fire incidents. I calibrated the newer ones while I was still on active duty. Just a guess though. 

The following is my observations and opinions over the years of collecting paratrooper wings.   I've come across similar types of paratrooper wings that all seem to have the same characteristics being made of a base of brass metal, silver coating, reverse stamped image on the back and clutch back.  They are cheaply made and seem to have been produced at the end of the occupation era and into the 1960s.  I believe they were produced both in Japan and South Korea.   I have attached photos of a number of these paratrooper wings below.  I was only able to find one exact match in my photo reference library (Photos 10 & 11) along with a glider trooper wing and an 11th Abn Div SSI.  It is hard to tell from this photograph but the front has been modified as it is a so called clipped wing.  The above paratrooper wing looks like it was once painted black which I have no explanation for as subdued paratrooper wings weren't around until the late 1960s.  I agree that these clutch back pins with the wide circular base had been added later.  This paratrooper wing may have used a slightly thicker blank initially as the reverse image isn't as well defined as these other examples so it might be slightly older being produced in the 1950s and not into the 1960s like these other wings using thinner blanks.      

I personally do not like the bar, it looks like it was put together recently, the stitching is beyond atrocious. Most men back in the day knew how to sew, it was a necessity, that stitching is suspect, IMO. And after decades of doing this, I don't know what it is, but I just don't like the ribbon bar, it just doesn't look right to me. 

Thank you!  Sadly, I was conned in a classic "bait & switch".  The seller had this sword up for a ridiculously low price.  Though my spidey senses were tingling, there was the possibility that it was low priced due to ignorance.  I've gotten incredible scores like that in the past.  As it turns out, this was a "sold' item, according to the seller who just happened to have a load of cheap Chinese and Pakistani garbage blades for sale, if I wanted to see them instead.  

thanks! One other spot I always try and look in… never pass up a section of ladies hats. You’ll never miss a good beret , if you take a minute to dig. 

Yes, some nice photos.