First published in Italian in 1978, this nuanced fable is entitled (my personal translation): "Twice Upon a Time there was a Baron named Lamberto," or "The Mysteries of the Island of San Giulio."
However, I see that the official English translation was called "Lamberto, Lamberto, Lamberto."
At any rate, I found a used copy of the original 1978 paperback Italian edition, and that's the one I read. It's set in the time it was written (late 1970s), and in Italy, in a real location. (From Wikipedia: "San Giulio Island or St. Julius Island is an island within Lake Orta in Piedmont, northwestern Italy. The island is 902 feet long (north/south), and 459 feet wide (east/west). The most famous building on the island is the Basilica di San Giulio close to which is the monumental old seminary (1840s). Since 1976 it has been transformed into a Benedictine monastery.")
Although Italians and/or those who've seen the island and lake might better appreciate the story, I hardly think it's necessary to enjoy the tale.
This short book (103 pages) is often described as a "children's" fable, but although kids may(?) enjoy it, I think it's clearly aimed at adults who still possess a childlike sense of wonder and imagination. I found it somewhat along the lines of The Petit Prince, with a dash of whimsy and wordplay reminiscent of the Lemony Snicket novels.
I'm curious as to how the English translation coped with some of the Italian wordplay. As I was reading, I would at times stop to think how I would convey some of the puns, wordplay, humor, etc. if I had to translate it into English. I usually came up with good alternatives, but at one point I was stumped. There was a play on the word "pallone," which can mean "soccer" or (hot air) "balloon". The word is mentioned, and names of a couple of famous Italian soccer teams are tossed out in response, but the word "pallone" reminded the character of a disassembled hot-air balloon he'd seen in the basement, which of course would come in quite handy at that point in the story. Obviously, there's no analogous word in English.
Numerous other reviewers have summarized the plot, so no need for me to repeat the task. I really enjoyed the beginning of the book, the premise, the lighthearted tone, the wordplay, the setting, and the delightful characters, of course. I'd particularly cite the faithful butler/assistant/friend Anselmo with his ever-present umbrella. I didn't care quite as much for the first major turn of plot, with the nephew and the bandit/kidnappers entering the scene, although there were still certainly a lot of clever anecdotes and social observations. The penultimate twist (which gives sense to the title "Twice upon a time there was a Baron named Lamberto") wasn't terribly surprising, but the final twist, the one that perhaps has caused other reviewers to cite "Benjamin Button," did surprise me a bit.
Without trying to be overly cutesy or sentimental, I'd say the story is positive, life-affirming, heartwarming, thought-provoking.
As I came to the final, two-page chapter "Epilogue," I was beginning to think the ending was a bit unsatisfying. Then, ironically enough, in the final paragraph, I read this (my unofficial translation): "Not everyone will be satisfied with the story's ending." And I had to laugh. In fact, the author basically hands off the final ending to the reader to devise. To wit, the very last sentence of the tale: "Any reader unhappy with the ending may change it as he pleases, adding a chapter or two to the book. Or even thirteen. Never let yourself be frightened by the words... The End." (Again, my personal translation. I haven't seen the "official" English translation, so mine may be different.)
A good message. Although I can't honestly afford it five stars, I'd definitely recommend it for those who enjoy whimsical fables.