Djbouti is quite interesting: the terminal of the Addis Ababa railway and a good harbor, can play a significant role in the development of Italian East Africa. British Somaliland is less attractive, but completes the "set".
I do believe that the only other reasonable request might be a free hand in Yugoslavia, not so much to annex the country (God forbid!) but rather to assist its devolution into the original components (Slovenia, Croatia, Serbia, Montenegro, maybe even a Bosnia). I believe that Italy would be satisfied with adjustments on the Slovenian border, and gains in Dalmatia and in Kosovo (the former to satisfy Italian nationalism, the latter Albanian nationalism).
It would certainly be more rewarding if Italian requests were based on sound economic considerations (wouldn't be it a miracle?): a preferred status for transit across Suez (important to develop AOI), a participation in the IPC and/or AIOC (oil is the great weakness of Italy), coal and iron supplies at preferred rates. I don't think it would be a set of absurd requests, and their benefits would be enormous.