Hey, guys, I bought my first Carcano 3 months BEFORE LHO bought his! Do I really need to worry that the CIA might have me on a "list"?
Actually, I have found that the terrific muzzle blast of the Carcano Carbine CAN be tamed very easily. What you do is realize that the ammo as loaded is designed for a 31-inch barrel, and that any ammo thus designed is GOING to give a huge blast in a 17-inch tube, of which only about 14 is actual rifling.
I go outside the regular books and have been loading ammo for my assorted Carbines and TS rifles with a very fast powder, to wit, 4198, and a 140-grain Remington bullet. Works fine. By keeping the loadings relatively mild, muzzle blast is cut right down and accuracy is considerably UP, running about 2 inches in a Model 38 6.5mm Carbine built in either 1942 (if you're a normal person) or XX (if you're a Fascist and counting from the re-founding of the Roman Empire).
BTW, same ammo is giving groups slightly over one inch from a Model 41 rifle.. In passing, the 41 was the only Carcano made with constant-pitch rifling. All other Carcanos used gain-twist rifling. Bullet diameter for the Carcano is supposed to be .267 or .268, but I find that if you use fast powder, you can kick a .264 hard enough on the base to give some upset, hence the quite acceptable accuracy.
Keep your loads sane, but DO have fun.
Carcanos are one of the few really fun things left that hasn't been banned, so go to it!