Not all Italian-Americans have the opportunity to go to college. As Philip Lombardo stated above: a fair amount of Italians in the USA are probably still working class people. The Italian-American working class population is the largest in New York City and probably will remain for years to come.
Not anymore. Most Italian Americans have bolted for the suburbs. There are far more "working class" Latinos actually living in New York City today than Italians. Look no further than the 2010 census. But if you meant the "New York City metropolitan area," then your statement certainly has merit.
And I agree with the rest of your post. It will be some time before assimilation completely diminishes the mob's recruiting pool 
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