A partial explanation on Italian driving?

I got around to looking through the vacation photos from my trip to Italy today. We were sitting in Trastevere in Rome drinking several bottles of totally excellent red wine(thanks Silvia!), when I looked up and saw the awesome sight of these three signs. This photograph kind of explains why Italians don't seem to really care that much about the traffic rules... they can be pretty ambiguous. I think what these particular signs are trying to say is:

"This is a one way street, commoooon, dare to go in the opposite direction! I dare you! Nah, just kidding, you cant go in here at all."

Or perhaps a seasoned Italian driver can explain it better?