I am biased because I strongly dislike Italy, but I don't see much point in making a side wager either way. Both United States and Portugal showed enough weaknesses in the South Korean defense that you would think Italy has the edge here. That said, Italy has played like crap since dismantling Ecuador so you have to wonder if they are as good as most people think.
The United States game did make me think of something, though. Think about the teams that showed weakness in their final group game and how they have fared in this round.
Spain: Nearly let South Africa get a result against them and then nearly were beated by an Irish side that was overmatched on paper.
United States: Beat a Mexican side that looked far better in the group stages after getting pummelled by Poland.
Senegal: Made it to the second round after a pitiful finish to their third group game in which they nearly threw away their chance to advance but then upset a favored Sweden side that won the group of death.
England: Looked unmotivated and ordinary against Nigeria but then crushed a Denmark side that blew through their group.
Of course, Germany and Brazil looked great in the group stage and then followed up with good wins in the second round. Italy surely looked vulnerable against Mexico so I get the feeling we may see a reversal of fortune tonight in the same way Senegal and the U.S. turned their play around in the round of 16. That said, though, I still think they are overpriced as favorites.
The total may be ripe for an over play at 2.5 and plus money. Korea played all three games under in round 1 and Italy played 2 of 3 under (with the lone over coming on a somewhat flukish goal). Still, you know South Korea will have a breakneck pace in this one similar to the U.S. game where we easily could have had a 2-2 or 2-1 final score had a bounce or a penalty gone the other way.
I am not sure I will play it but I think Anders' thoughts on the over that he posted with his plays are on target and if you are planning on betting that game, the over is the play. If you absolutely must play a side, my guess would be Italy, but that is really not much more than a guess.