[Milu]

I can't help with the Rome area but I would suggest adding a day trip to Modena to visit the Ferrari complex. I would avoid the cities in July and first two weeks of August because of the heat and tourist crushes, coast, mountains and lakes are much more comfortable at this time. becareful travelling during ferragosto which is the first half of August as you risk being caught in serious holiday traffic as it's effectively a two week national holiday and most people are either leaving the cities or visiting friends and relatives.

I was in Monaco last year for the week before the Gran Prix and during: It is a total circus with a lot of the locals moving out for the GP week, organise yourself for it in plenty of time with hotel/appartment/boat and tickets. A visit to the Monza circuit (near Milan) may also be fun, its usually fairly quiet during the week.

I'm usually working in N. Italy, contact me closer to the time if I can be of any help or if you'd like to meet up for a beer and pizza.