Here is a link to a comparison review of the different T-55 kits of the time (pre-Tamiya's new kit). The Italeri kit is a reboxing of the old Esci/Ertl T-55 kit. Twenty-something years ago when it first came out, it was highly touted since we hadn't had a modern Soviet (the Russians were still Soviets when the kit came out) tank kit since the over-scaled Tamiya T-62A. I know Esci released this kit in three variations, but to be honest, I don't know off hand what detail pieces come and don't come with each boxing (now for their M60A1/A3 series, I know all the variations). Esci originally released the T-55, T-55A(M) and the Ti-67 (Israeli captured T-55) as kits #5404, 5405 and 5408 respectively.
I bought a bunch of these over a dozen years ago when Esci went out of business at a Big Lots closeout store for $4.99. I remember them being fairly decent to build, although I only built the Israeli version because there was more info on it than the standard T-55 series.
Remember, this review was written before Tamiya's outstanding T-55 kit came out. It should help in detailing the kit. Also look for old Eduard PE sets for the Esci kits. They were fairly small sets and should be relatively cheap today at places like eBay. Also Verlinden's set #1935 was originally produced for the Esci kit. They just relabeled it for the Tamiya kit but did not modify it. It can be found cheaply as well.
http://www5b.biglobe.ne.jp/~TANK-GUY/KIT-REVIEW06.html
As far as the paint scheme, the original plain Esci T-55 had a neat scheme as the boxart. Much more visually interesting than the standard Soviet scheme.