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The Italians built some fantastic stuff. When the Fiat powered Macchi M.C.72 set the world speed record in 1934 the U.S. govt. was so concerned they did a detailed study of its engine and passed it around to all the U.S. manufacturers. It's engine was made by Fiat, but a lot of the design features showed up in later Alfa Romeo automobile engines. I still have that study, it's fascinating reading.
The engine in that biplane appears to be supercharged, that's pretty advanced for the biplane era.
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