Originally Posted by
anamo
I know that more likely than not, I will have to go take a bus to the terminal from the plane
That is not a standard. It may happen, but with flights from the Us is unlikely.
Originally Posted by
anamo
and then go through security.
Yes
Originally Posted by
anamo
And do you know if I would have to wait for checked luggage or if it would transfer automatically to my final destination?
FCO is not like US airports where you have to collect your luggage, clear customs and then drop off the luggage again. If the airlines have an interline agreement, they can check the luggage through your final destination. It's really up to the airlines (based on your itinerary and so), not to the airport.
55' is theoretically something you can manage but like for any transit with 55' you don't have spare time: flight delays, additional security screens or whatever. You can make it, but it's a high-risk transit.