I flew YYZ-FCO last week, and am currently roming around Italy with family.
I liked the updated B777 in business class, as did the rest of my family. I find the new interior to be a very pleasant experience. The service director was a young man with red hair named Michael, who was delight and very personable.
I don't have any recent AZ experience, but I would pick AC's YYZ-FCO business class again without any hesitation.