The M48A4 was actually the planned upgrade of the M48A3 by adding the original M60 turret. The now turretless M60 hulls were to be rebuilt as M60A2. I've read only six prototypes were built due to the failure of the M60A2 system and the straight M60s were never rebuilt as A2s. Instead, the M48A3s were rebuilt and upgraded to M60A1 standards and became the M48A5.
While Israel did upgrade their M48 tanks, they were not M48A4s.
As far as Italeri's model kit quality, they are all over the board in regards to armor models. Many of their early kits were reboxed Peerless Max kits with the former multimedia pieces replaced with plastic. Many of their original 1970s kits like the Willys Jeep, M4A1, M7 Priest, were very good for the time. Their high water mark is considered their Leopard 1 and M47 Patton tanks. In the late 80s, their Leopard 2, M36 Jackson, M113, M108/109, M107/110, HMMWV quality had dropped.
By the mid 90s, their kits were highly regarded subject-wise, but quality slipped even farther with their HEMTT, M900 series 5 ton, Panther, Tiger kits.
Today, they reissue a lot of other companies' kits like Zvezda, Esci and others. Some good and some not as good. Every now and then they put out some nice kits, normally Italian armor tends to be better quailty than their mainline kits.