I've had several Armellini pipes over the years, and they have all smoked good. I only have one now and I smoke it from time to time. My main problem with them, is the stems are drilled very small, so they had a somewhat restricted draw and it's hard to get a pipe cleaner through. I had one Verona, made by Armellini for the Tinder Box chain that I had no problems with. All mine were also older pipes from the 1970s and 80s so things may be different (better?) now.
That pipe you posted looks really nice though!