On the other hand, with a CP-aligned Italy:
1) maybe UK would adopt a more "naval power"-strategy
Sicily Expedition, anyone?
2) what about the ottomans?
I'm not sure about invading Sicily seeing how Britain must spend considerable resources (read: troops) to keep the French in northern France going since over a 1/3 of the French soldiers that served there IOTL will be fighting the Italians. As for the Ottomans, they're likely to either remain neutral, which means that Allied shipping through the Bosporus to Russia will continue unless the Porte wants to risk a war (therefore Russia might do slightly better than IOTL), or they will side with whichever alliance Russia is not in, in this case the Central Powers.