Little Italy
Little Italy is the first Gold weapon and it's about what you'd expect from a weapon like that. It has good agility, decent enough damage output and okay range, and it's better than Rookie Machine, Gun, Assault Rifle, etc. as it has qualities that each of them lack. However, it's still not a very good weapon. It lacks the fire-power other weapons have, and its range isn't particularly impressive either. Like most other weapons, however, it has good enough range to beat shotgun players if you are skilled enough.
The weapon plays similarly to other weapons like it - it's best used at close ranges where circle strafing is viable and at ranges where it's far enough away to beat players with shotguns. To beat it, avoid running straight at it and move left and right around them to make them miss, all whilst shooting them to weaken them.
If you are early on in the game and you have 40 Gold, you're basically halfway to getting the Blunderbuss, a fantastic weapon, so you should probably keep saving for that rather than spend your Gold on the Little Italy.
The weapon plays similarly to other weapons like it - it's best used at close ranges where circle strafing is viable and at ranges where it's far enough away to beat players with shotguns. To beat it, avoid running straight at it and move left and right around them to make them miss, all whilst shooting them to weaken them.
If you are early on in the game and you have 40 Gold, you're basically halfway to getting the Blunderbuss, a fantastic weapon, so you should probably keep saving for that rather than spend your Gold on the Little Italy.
TL; DR
It's better than the initial few newbie weapons, but 40 Gold is better put toward getting the Blunderbuss than getting this weapon.