I see conte employing one of two different approaches to games both using the same formation.
1) The conservative approach aka pussy football:
This is a low tempo approach. The team doesnt become very adventurous going forward but rather relies on slow build-up play from the back and surrounds the opposition team in their own box and try to squeeze goals through (Pirlo is the maestro of this surround system). The team tries to slowly break down the opposition defenses and does so more frequently the weaker the opposition's defenses are. The wing backs stretch the opposition while the CMs and the strikers push their way through. The occasional cross in the crowded box is tried when Llorente is playing.
When we lose the ball we lose it either in the midfield or in Attack. When we lose it in the middle we easily recover it because our slow build up guarantees that most of our players (all of which are excellent in recovering the ball apart from pirlo who fouls when there is no other cover) are still in the middle close to where the ball was lost and they go to their defensive positions quickly. When we lose the ball in Attack our wing backs track back and 2 CBs and a CM at the very least are ready to recover the ball. In short, the low tempo gives the defense time to organize themselves and we are rock solid at the back when we play like this. The frequency of brain farts is very diminished and defenders have the luxury of time at their hands to handle the occasional loss of concentration.
This approach is very successful yet boring to watch and makes the team look predictable even if its consistently effective. Employing this approach however, has the risk of falling into way too many draws (like previous seasons in Serie A and this season in CL) or grinding out 1-0 wins (like this season). After all the team isnt very adventurous and goal scoring chances are thus rare so the players have to be clinical. You will never thrash an opponent using this approach and you'll always look like you struggled to win. Without a clinical striker force and against a really organized defense you will struggle.
With this approach the worst case scenario is the draw the best case scenario is a tight win 1-0 or 2-0 depending on form and opposition.
2) The second approach is the high tempo one. The team is more adventurous but more vulnerable at the back. Brain farts become a common occurrence especially with Bonnuci on the team (look at how bad even kompany is doing when city upped the tempo under pellegrini or how often hummels and Luiz make stupid mistakes) You'll create many goal scoring opportunities but you'll also concede. You have to outscore opponents which is difficult to do with a wasteful strike force and an error prone defender (bonbon).
The best case scenario is a thrashing and the worst case scenario is also a thrashing from counter attacks or brain farts (Madrid, Gala, Benfica).
In my opinion, the first approach is more suitable for league matches because opposition defenses are weaker, your strikers are more used to the opposition and draws wont do much damage. In european cup competitions though defenses are stronger, a draw is usually a bad result and your strikers arent used to the opposition as much. In every instant where we used this high tempo approach we had a great game yet lost or drew because of brain farts and wastefulness in front of goal. I think that we will be much more successful at using it if we improve our strike force, have better bench options for our wingbacks (Pace is a must) and use a less error probe defender in place of bonnuci during these matches.