[Romeo 33 Delta]

I'd call it a Carcano Model 91-38 or just Model 38 Moschetto Cavalry Carbine.

Now that we have that out of the way, yes, ammo is hard to find and because of its age, of dubious quality.

However, if you reload, you have it made. Carcanos in either 6.5 or 7.35 enjoy a large following, with all components, dies and reloading information readily and affordably available. For example, Lee makes dies @ $25, Graf has Privi 7.35 Boxer brass @ $60/100, and check Buffalo Arms or Graf for bullets. For loading data, just Google: Carcano Ammunition Reloading. Lots of good information there. I use 32gr of Benchmark or 34.3gr of H4895 with good results with 128gr bullets from Buffalo Arms for a very mild plinking load.

You will also need to buy CLIPS. You can single load the rifle, but to do so without cursing or breaking the extractor, you need to retract the bolt, then while pulling and holding the trigger back, remove the bolt. Then, slip the cartridge under the extractor and reinsert the bolt and close normally. Yes, it's a pain, but I did it for one range session with one of my rifles when I was POSITIVE that I had clips with me. The clips are available all the time on Ebay and last a lifetime.

Also, it will shoot high. You will have to relearn how to take a proper sight picture. We, in the West, are taught the PUMPKIN ON THE POST picture.
Italian practice was to BURY THE FRONT SIGHT to the bottom of the "V". This will result in the point of impact being closer to the point of aim. But remember this, it's a MILITARY RIFLE and a CARBINE. It was intended to hit a man-sized target out to 250 meters. Center of mass and all that. Also, being a carbine it would have been issued to, in this instance, Cavalry troops, fighting at closer ranges than your typical Infantry would. The rear sight on the 1938 models are fixed, so you would just adjust the placement of the front sight in the "V" or just underhold a bit. Aim at the target's waist and you can easily hit him in the chest. Battle rifle ... not target rifle.

You can see that I'm a Carcano guy (as well as ANY military rifle). They are very much fun to shoot and will not tear your shoulder off like a Soviet 44 carbine will. From what I've read, the 7.35 is like a low-powered 300 Savage.
With SP ammo, you could easily hunt with one. For my stature, I've found that the Carcano Carbines are "Natural" pointers. Mine literally FLYS to my shoulder like it belongs there. Just feels soooo good.

Hope this helps you. I don't think $200 is out of line, if the bore's in good shape. From the picture, cosmetically it looks quite nice.

Just a thought. The caliber is USUALLY marked on the receiver/barrel juncture. They were made in 7.35 as well as 6.5. Now, you can buy new 6.5 ammo from Privi but I think they use a .264" bullet. Some 6.5 Carcanos are just fine with that, but if you put holes all over the target, it might need a "correct" sized 6.5 bullet. It's Boxer primed, so you already have your brass for reloading. Hornady makes a correct bullet for the Carcano @ .2675" diameter. It's a long, cruise missle @ 160gr. (about .38/ea if I recall). Loading for this is a little more complicated because of the bullet specifics. Dave Emary is the expert on them and has a wealth of information for the reloader. Personally, I find the 7.35 to be less work to reload than the 6.5 (magnum primers ... powder sensitive), but that's just my opinion.