I vote for the pezzanovante scenario because it fits in nicely with Michael's delusional plan to become "legitimate." What I don't understand is how Anthony could go from being a law student
to a starring role in a production of Cavalleria Rusticana (not performed with Pagliacci oddly enough) in less than a year. In fact between the time Anthony quits law school and the time Michael has his brush with death from diabetes is a matter of months, yet when Kay comes to the hospital she tells Michael that Anthony is already gettting great reviews, and Anthony has apparently nailed the Palermo gig.