King's Pawn Opening Analysis

I'm reminded of this old web page from the Exeter club
http://exeterchessclub.org.uk/content/no-more-old-stodge
Take a look at the info in this link (http://exeterchessclub.org.uk/content/italian-game-beginners#RTFToC63), especially in regards to castling too early..there is an interesting sacrificial motif Black can pull off.
Hello Forum,
I have been in this position as white and black too many times as an e4 player and I often find myself stumped on what to do and how to improve my position. What are white's plans to attack and what are the various ideas that can be tested in this position? How about for black?
Thanks!