I was literally thinking the exact same thing, Gobbledydook. Italy's most likely 18-center line is contained within the line running from North Africa through Western Mediterranean, Portugal, Spain, Marseilles, Piedmont, Tyrolia, Bohemia, Galicia, Rumania, and Sevastopol.
It seems to me that based on your observation regarding Austria in 1902, Italy has to get three builds in 1902 or prevent Germany from doing it. The key question for S01, in my opinion, is: Will Germany open to Tyrolia? If the answer is "yes" I would propose opening with the Tyrolean Lepanto. The important thing to remember is that while any Lepanto-styled opening will cost you a third build due to the convoy, a bounce in Tyrolia equalizes it because your bouncing army in Venice can take Trieste in the fall; Germany's bouncing army in Munich cannot take anything, so you maintain build parity.
If Germany doesn't open to Tyrolia, and you get in, then build parity would dictate that Italy has to attack Munich in A01. The reasoning is easy: Either Germany will cover Munich or Germany won't. If Germany covers Munich, you have denied him a third build though you deny yourself a second. This delay in buildup is a clear win for Italy because it is Italy who needs a prolonged battle to get time to mobilize. And if Germany doesn't cover Munich, you've maintained build parity (2 builds apiece) and greatly destabilized his defenses.
The thing is that most Italian opening theories don't use the Lepanto and so the second army must successfully go to Trieste to get a third build. Thus the bounce in Tyrolia cannot be risked... and so Germany often gets in, allowing Germany to get a foothold in Austria and bring the four-army shitstorm down on an unprepared Italy. But in a Lepanto you're already discounting the chance at a third build, so you don't have to go successfully Rom -> Ven -> Tri as part of the strategy and you can spare the bounce.