Where is this Torpado catalog? Online or you have hardcopy of one? Ambrosio Elite 19 rims are actually pretty decent, but the cranks and brakes on this particular model are definitely downmarket. The frame does look nice, but without more info on the tube decals and dropouts, hard to tell just how nice. I agree that if you've got other bikes, this isn't exactly a blazing deal, though it isn't particularly bad either if you're looking for a primary ride.
If you want the genuine Italian experience, you might have to bump your budget up a bit, unless you get lucky.