Hehe, I would root for Sweden in curling and horseback riding, so its just automatic, even not so enthusiastic since I'm not really much for patriotism (though it just comes natural to root for them), can enjoy games for what they are.
But yeah, prolly root for Sweden more ofcourse, while still being able to objective watch the game and hope that just the better and more merited team of the day wins (as I did in the euro2004 game, was bit conflicting seeing Del Piero's chip go out, if I wanted it to go in or not

). Know and sympathies with the Azzurrini players more (with the very sport of football, Italy more or less defines it for me, been in love with that football even before moving to Sweden), because been watching them for almost 3 years togehter, not to mention see them weekly in the leauge, while this Sweden team I knew little to nothing about, except the two NT players (and I only seen them few times in NT games, dont watch them in Holland or Allsvenskan).
But yeah, you are totally right, they really been shockingly good, very admirable and charming football, those who advanced through deserve it, but I really find Swedens game most plesant of all, especially the attacking, been fun and very positive to watch them play. I wont be a knee-jerker and say they should all be called up to the senior team, but I know one thing, Toivonen defenitely should.