As long as it's all one ticket you will not be SOL. If the system let you book it then you are within permitted connection time.

Horror stories aside, I've flown AZ from Toronto-Italy in Y and it was an average flight. Nothing special, but nothing like what was experienced by some of the other posters either. Maybe I've been lucky, but I've never had problems at either FCO or MXP either. I wouldn't call either a model of efficiency but still easier to get around than, say, LHR.

Only problem is that ATM's at MXP are all landside so if you are a connecting passenger you have to go landside if you want any local currency.