I'm also open to other suggestions if it is blues rock oriented saturated sound.
Unless you gut it entirely and keep only the chassis and cabinet, if you want to re-use at least the power transformer, you could not make an 18W amp, because the B+ voltage of 370 V suggests about 30-35W.
I've found that Italian amplifiers of the era did not sound very good, although everything in them looked apt at sounding good. I would think it boils down to output transformers and loudspeakers.
I would think you could build a nice Super Reverb AB763; it would be slightly less powerful because of lower B+ (370 vs. 470V).
You would need a new output transformer and a set of 6L6's.
You may want to evaluate the actual speakers with another head and decide if you want to keep them or install a newer speaker.